These items are taken from the financial statements of Martin Corporation for 2017.

Retained earnings (beginning of year) .............................. $31,000

Utilities expense ........................................................ 2,000

Equipment ...............................................................66,000

Accounts payable ......................................................18,300

Cash .....................................................................10,100

Salaries and wages payable .......................................... 3,000

Common stock .........................................................12,000

Dividends ...............................................................12,000

Service revenue ........................................................68,000

Prepaid insurance ...................................................... 3,500

Maintenance and repairs expense .................................... 1,800

Depreciation expense ................................................. 3,600

Accounts receivable ...................................................11,700

Insurance expense ..................................................... 2,200

Salaries and wages expense ..........................................37,000

Accumulated depreciation-equipment ...........................17,600

Instructions

Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2017.