1. Financial Statement Creation Consider the following information from a company's unadjusted trial balance at December 31, 2018. All accounts have normal balances. Adjust the balances for the unrecorded transactions, then prepare an income statement, statement of retained earnings and balance sheet. Accounts Receivable Accounts Payable Cash Service Revenue Common Stock, $2 par, 10,000 authorized Common Stock, add'l pd in capital $ 500 550 1,150 15,000 500 500 Equipment, at cost Accumulated depreciation 5,500 500 Prepaid rent Retained Earnings, January 1, 2018 Salaries and Wages Expense 2,000 1,100 9,000 At year-end, the company accountant realizes that the following transactions have to be recorded: November 5, purchase 100 shares for the Treasury at a cost of $2 per share Record depreciation expense for the year: 250 Record rent expense for the year, $600 Purchased Supplies on account for $450 Dec 1, Issue 1,000 shares of common stock at issue price of $5 per share Dec 31, declare and pay a dividend to common stock outstanding of $.50 per share