Below find the trial balance for Nybrostrand Company. Prepare an income statemen

Below find the trial balance for Nybrostrand Company. Prepare an income statement and balance sheet in good format. After you have completed the two statements comment on the success of the company. Support your answer with information from the financial statements you just prepared.Nybrostrand Company31-Dec-11Trial Balance (accounts in alphabetical order)DebitCreditAccounts payable$ 78000Accounts receivable$ 36500Cash16700Common stock10000Depreciation expense24350Cost of goods sold317000Equipment (net of depreciation)395000Insurance1400Inventory34000Long-term debt127000Marketing4500Paid-in capital50000Property taxes16900Rent28000Retained earnings?Revenues586000Salaries78500Utilities6700Total959550851000The submission should be 2 to 4 pages and need to include answers to all the questions listed above. Show computations discuss the results and include references in APA format.