Assume this is the first year of your business from the week 4 profit and loss statement for the purpose of creating your balance sheet and cash flow statement.

Create a balance sheet and cash flow statement addressing the instructor's findings from previous class assignment(s) by doing the following:

• Conduct an internet search or use an example located in the textbook for a balance sheet and cash flow statement.
• Review the revenue and expense items based on comments made by the instructor to best estimate realistic values for the balance sheet and cash flow statement.
• Review the budget, income statement, and cash flow items, along with feedback provided by the instructor from the previous week(s).
• Explain the order in which the financial statements are prepared and how they are connected.

Here is the feedback from last weeks assignment

	12/31/2020	12/31/2021
Net revenue	250,600	290,000
Cost of Goods Sold	$0	$0
Gross profit	250,600	290,000
Operating expenses
Payroll for staff	$109,343	$118,322
Payroll taxes for staff	$29,920	$30,423
Rent for location	$2400	$3,600
Heat and electric	$1800	$1800
Water and sewer	$600	$600
Workmans comp	$600	$600
Premise insurance	$600	$600
Advertising and marketing	$1200	$1200
Entertainment & Food	$600	$600
Professional development and training	$1200	$1200
Office supplies and equipment You would only show the depreciation as these are fixed assets on the balance sheet	$700	$800
Miscellaneous expenses	$12,000	$12,000
On site therapist	$19,500	$19,500
Professional liability	$9,000	$12,000
Pretax operating expenses total of above	$189,463	$203,255
Income before other income and expenses	61,137	86,745
Interest expense	$20,048	$23,000
Income before taxes	$250,600 41,137	$290,000 63,745
Income tax expense	0	0
Net income	$61,137 41,137	$86,745 63,745

ALL THAT YOU NEED IS SUBMITTED