Barth company reports the following year-end account balances at december 31, 2011. prepare the 2011 income statement and the balance sheet as of december 31, 2011.

accounts payable $ 32,000 inventory $ 72,000
accounts receivable 60,000 land 160,000
bonds payable, long-term 400,000 goodwill 16,000
buildings 302,000 retained earnings 120,000
cash 96,000 sales revenue 800,000
common stock 300,000 supplies inventory 6,000
cost of goods sold 360,000 supplies expense 12,000
equipment 140,000 wages expense 80,000