The account balances of Tompkins Towing Service, Inc., at June 30, 2012, follow:

Requirements 

1. Prepare the balance sheet of the business at June 30, 2012.
2. What does the balance sheet report—financial position or operating results?
3. Which financial statement reports the other accounts listed for the business?

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Equipment Supplies $13,900 Service revenue 400 Accounts receivable $10,600 5,400 Note payable 6,300 Accounts payable 3,300 Rent expense Cash Retained earnings 500 Common stock 3,700 1,600 Salary expense 2,100 ,