Presented here are the accounts of West Company for the year ended December 31, 2025. 

Requirements 

1. Prepare West Company’s income statement for the year ended December 31, 2025. 

2. Prepare the statement of retained earnings for the year ended December 31, 2025. 

3. Prepare the balance sheet as of December 31, 2025.

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Land Notes Payable Property Tax Expense Dividends Rent Expense Salaries Expense Salaries Payable Service Revenue Supplies Retained Earnings, Dec. 31, 2024 $8,000 Common Stock 32,000 Accounts Payable 2,600 Accounts Receivable 30,000 Advertising Expense 13,000 Building 65,000 Cash 1,300 Equipment 192,000 Insurance Expense 10,000 Interest Expense 54,000 $ 28,000 11,000 1,000 15,000 145,200 3,000 16,000 2,500 7,000