Frankie is a 10-year old entrepreneur. He is a big

Frankie is a 10-year old entrepreneur. He is a big fan of sports trading cards and has a great idea for making money: 

1) buy cards in bulk, 2) buy sleeves in bulk, 3)put cards in sleeves, and 4) sell single sleeved cards at a profit to other sports trading card fans. Frankie surveyed his friends and identified Melissa, Steven, Anthony, and Kyle as sports card fans willing to pay fairly high prices to get the cards they want, and are willing to pay cash. Besides those four, many other potential customers exist. Frankie’s dad doesn’t think Frankie’s brainstorm is such a great idea because (a) Frankie has no money, and (b) Frankie may not have time to sort and assemble cards because he has too much homework. Frankie’s Aunt Frances has plenty of money, no kids of her own, and is happy to lend some money to her namesake Frankie. Frankie’s dad says she must charge simple interest at an annual interest rate of 10% to make it a real business transaction, otherwise no deal. Frankie’s little sister Sally, who is 6 years old, is in the first grade, very smart, extremely industrious, and exceptionally trustworthy. She has lots of time because first graders don’t have much homework. 

Sally is willing to work for Frankie for 2 cents per assembled card. Moved by his son’s initiative and the support of Frankie’s aunt, Frankie’s father decides to allow Frankie to try out his scheme. He even agrees to be Frankie’s supplier, since Frankie doesn’t have a credit card. However, he makes it clear that Frankie must pay his father as soon as the sleeves and cards arrive and he must pay Sally as soon as she does her work, not after Frankie sells the cards. Their research indicates the best deal for the most desirable trading card brand is $3 for a pack of 9 cards, and the best deal for sleeves is $7.50 for a box of 250 sleeves. Those costs include shipping and any applicable tax. 

Frankie borrows $180 from Aunt Frances. He buys 48 packs of cards and two boxes of sleeves from his dad. Sally takes all 432 cards (48 packs x 9 cards per pack) out of their packages and puts them into the card protector sleeves. She sorts them by type (super-rare, rare, common, and so forth). Frankie pays her the agreed upon $8.64 ($.02 x 432 cards). Slowly, but surely, over the next 3 months Frankie sells all 432 cards and generates total revenue of $400. At the end of the 3 months, Frankie pays Aunt Frances $184.50 ($180 principal + $4.50 in interest –$180 x .10 x 3/12 = $4.50).

Required 

Create a value  system  level model for  Frankie’s  business
Create a value chain level model for Frankie’s business – include all duality relationships
Create the Income Statement, Statement of Owners Equity, and Balance Sheet for Frankie’s  business
Explain how you were able to create the financial statements in (3) above without having used journals and ledgers to store the transaction data.