For year ended 12/31/10, Firm H sold 100,000 units of product at a price of $10 per unit. The Gross Margin was 70% and S,G &A was 10% of Sales. Year- End Debt was 1,000,000 on which a 10% interest rate is paid for the year. The after -Tax Rate is 80% and the Dividends payout rate is 60%. As of 12/31/2010, Assets totaled $ 7,000,000. Year 2010 was the firm's first year of operations.
Please can you help with the following
Income Statement
Statement of Retained Earnings
Statement of Owner's Equity