Assume that you are the owner/operator of College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2014), the following financial data for the company are available:

Required
1. Prepare an income statement for the year ended June 30, 2014.
2. Prepare a statement of retained earnings for the year ended June 30, 2014.
3. Prepare a balance sheet at June 30, 2014.

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$ 5,000 Cash Accounts Receivable 125,600 25,000 Supplies Property and Equipment 242,500 13,500 87,000 Other Assets Accounts Payable Notes Payable 150,000 37,000 250,000 185,700 Other Liabilities Sales Revenue Operating Expenses Selling and Administrative Expenses Advertising and Marketing Expenses Interest Expense 53,400 27,800 5,000 50,000 137,000 Retained Earnings, July 1, 2013 Contributed Capital Dividends 27,500