Exercise 1-15 Preparing an income statement and a balance sheet LO 1-5 Topez Company was started on January 1, 2014. During 2014, the company experienced the following three accounting events: (1) earned cash revenues of $14,500, (2) paid cash expenses of $9,200, and (3) paid a $500 cash dividend to its stockholders. These were the only events that affected the company during 2014.