Following is a list of financial statement items and amounts for Vantage Service as of 12/31/Year 1, the end of its first year in operation.

Accounts Receivable	$41,000
Accounts Payable	31,000
Cash	10,100
Common Stock	21,000
Notes Payable	10,200
Equipment	50,500
Sales Revenue	105,000
Fuel Expense	10,100
Rent Expense	10,900
Advertising Expense	5,100
Salaries and Wages Expense	21,000
Retained Earnings	?
Dividends	18,500

1. Prepare the Income Statement for the year ended December 31, Year 1.

2. Prepare the statement of retained earnings for the year ended December 31, Year 1.

3. Prepare the balance sheet for the year ending December 31, Year 1.