Presented here are the accounts of Gate City Answering Service for the year ended December 31, 2014.

Requirements
1. Prepare Gate City Answering Service’s income statement.
2. Prepare the statement of retained earnings.
3. Prepare the balancesheet.

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S 8,000 Common Stock Notes Payable Property Tax Experse Dividends ent Expense salaries Expense Salarles Payable Service Revenue Office Supplies Retained Earnings, 12/31/13 $ 28,000 11,000 1,000 15,000 145,200 3,000 16,000 2,500 7,000 32,000 Accounts Payable 2,600 Accounts Recevable 30,000 Advertising Expense 13,000 Building 65,000 Cash 1,300 Equipment 92,000 Insurance Expense 0,000 interest Expense 54,000