Presented here are the accounts of Town and Country Realty for the year ended December 31, 2016:

Land............ $ 5,000

Notes Payable......... 36,000

Property Tax Expense...... 3,400

Dividends......... 32,000

Rent Expense.......... 10,000

Salaries Expense....... 69,000

Salaries Payable....... 1,500

Service Revenue....... 180,000

Office Supplies....... 12,000

Retained Earnings, 12/31/15.... 57,000

Common Stock.......$ 28,000

Accounts Payable....... 14,000

Accounts Receivable....... 1,000

Advertising Expense....... 14,000

Building............ 144,600

Cash.............. 3,800

Equipment........... 13,000

Insurance Expense....... 2,200

Interest Expense....... 6,500

Requirements

1. Prepare Town and Country Realty's income statement.

2. Prepare the statement of retained earnings.

3. Prepare the balance sheet.