Divide this text into sentences and correct mistakes: 1. On and so forth, so you can see it both in the table format as well as balancing out in a debit and credit format. Alright, so that's gonna be that information. 2. Next thing we have, we're going to record the income, the activity on the income statement basically for the year. 3. So we're gonna have one balance sheet account that's gonna be our balancing account, and then the incomes name its sales cost goods sold operating expense, salaries guaranteed payment capital accounts. 4. You'll note that there's going to be different types of incomes, that's gonna be the point we want to point out the fact that when we flow through this information the tax code is going to tax these at different rates depending on the type of income that we have here, so we want to keep that in mind as we go. 5. I'm gonna say here's this and we're gonna say I'm not gonna put this in terms of all the debits on top, I'm just gonna put it in order as it's giving us kind of an order of what an income statement would look like in terms of a journal entry, this is basically summarizing the entire year in terms of an income statement. 6. So first the cash is going up, it's a balance sheet account that's gonna be the balance sheet account that kind of balances out the income statement here, so we're gonna put the cash on top and we're gonna say that's four we actually lost money so it's going down ten six seven zero. 7. Then we had sales, so sales is gonna be income, it's a credit balance accounts I'm gonna paste that, it's gonna be a credit and sales was for a...
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