Presented here are the accounts of Quick and EZ Delivery Corporation for the year ended December 31, 2012.

Requirements
1. Prepare Quick and EZ Delivery Corporation€™s income statement.
2. Prepare the statement of retained earnings.
3. Prepare the balance sheet.
4. Answer these questions about the company:
a. Was the result of operations for the year a profit or a loss? How much?
b. How much in total economic resources does the company have as it moves into the new year?
c. How much does the company owe to creditors?
d. What is the dollar amount of the stockholders€™ equity in the business at the end of theyear?

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$ 7,000 Common stock 30,000 Accounts payable 2,900 Accounts receivable 32,000 Advertising expense 13,000 Building $ 32,000 Land Note payable 14,000 Property tax expense Dividends 1,700 17,000 Rent expense Salary expense Salary payable 137,900 6,000 69,000 Cash 500 Equipment 192,000 Insurance expense 8,000 Interest expense 17,000 Service revenuc 2,000 Supplics 6,000 Retained carnings, 12/31/2011 51,000