Tax expense 25000
Notes Payable 90000
Account Receivable 60000
COGS 206250
Notes Receivable 27500
Salary Expense 23750
Land 156250
Bonds Payable 93750
Rent Expense 18750
Sales 338750
Accounts Payable 75000
Tax Payable 38750
Cash 42500
Common Stock 231250
Building 262500
Inventory 45000
Required: Single Income Statment