Finance question
The fictional Be Good company recorded the following financial data for the year ended 20X2:
| Sales | $1,000,000 |
| Cash | $25,000 |
| Cost of goods sold | $700,000 |
| Inventory | $50,000 |
| Accounts receivable | $75,000 |
| Operating expenses | $200,000 |
| Fixed assets | $400,000 |
| Interest expenses | $20,000 |
| Accounts payable | $15,000 |
| Taxes | $ 30,000 |
| Long-term debt | $300,000 |
| Owner’s equity | $225,000 |
| Accruals | $10,000 |
Organize these data into a balance sheet and an income statement.
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