You have been hired by Number Company as a staff accountant. Your first assignment is to produce financial statements for Alphabetical Company. You must produce the income statement, statement of owners' equity and balance sheet for both years, and a statement of cash flows for only 20X2. Additionally, please refer to the rubric attached to this assignment for additional grading components and information required in submission. Please note that the company: 1. Issued stock in 20X2, but did not in 20X1. 2. Paid its 20X1 tax liability in full in 20X2. Tax rate 38% Deferred tax payable - Depreciation at Dec. 31, 20X0 26,600 20X1 20X2 Estimated tax payment made Tax depreciation 4,600 10,000 37,200 33,600 Unrealized gain on short-term trading debt investment 8,400 5,100 Unrealized gain on long-term AFS debt investment 11,000 20X1 20X2 Accounts payable 222,550 298,966 Accumulated depreciation Accounts receivable Additional paid-in capital Amortization expense Cash Common stock ($1 par value) 29,300 30,800 141,700 169,700 192,100 201,700 6,400 6,700 65,600 68,900 83,500 87,700 Cost of goods sold 179,300 188,700 Deferred taxes payable - Depreciation ??? ??? Deferred taxes payable - Long-term AFS debt investment ??? ??? Deferred taxes payable - Short-term trading debt investment ??? ??? Depreciation expense 26,600 28,000 Dividends declared 4,400 4,600 Dividends payable 920 970 Equipment 559,400 671,300 Insurance expense 42,200 44,400 Interest expense 11,000 10,500 Interest income 19,500 18,600 Interest payable 530 600 Interest receivable 1,900 2,000 Inventory 98,300 103,200 Long-term AFS debt investment - at cost 52,200 Marketing expense 63,300 66,600 Marketing payable 17,300 18,200 Note receivable 372,500 350,150 Notes payable 261,900 246,200 Patent 67,300 60,600 Prepaid insurance 25,500 26,800 Retained earnings - beginning 221,400 ??? Salaries payable 27,300 28,700 Salary expense 84,400 88,800 Sales 527,300 555,100 Short-term trading debt investment - at cost 46,400 46,400 Tax expense ??? ??? Taxes payable ??? ??? Utilities expense 63,300 66,600 Utilities payable 9,100 9,600