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04: The following comparable balance sheet for Ibrahim Stores for the year ended Dec 31, 2012: Accounts Cash Notes receivable Accounts receivable Inventory Prepaid expenses Short term investment Building & Equipment (net Total Assets Accounts payable Interest payable Expenses payable Bonds payable Capital Retained earning Total liabilities & owners' equity Dec. 31. 2012 84,500 $ 21.000 95,000 150,000 10,000 10,000 120,000 490 500 133,000 900 3.000 Jan 1, 2012 33,000 $ 20,000 74,000 160,000 12,000 40,000 100,000 439.000 135,000 280.000 73,600 490,500 2.000 50,000 200,000 52,000 439.000/ An analysis of cash receipts and disbursements discloses the following: Receipts Disbursement New capital investment 80,000 $ Trade creditor 210,000 $ Accounts Pay. Trae debtors - Notes and 230,000 Expenses 70,000 accounts Cash sales 65,000 Dividends 40,000 N/R discounted - Face value 19,500 Equipment 28.000 20000 10% Note issued to bank 30,000 Bonds 50,000 dated March 31, 2012 Sales of investment 25,000 Required : 1) Prepare an income statement supported by schedules showing computation of revenue and expenses for the year ended in Dec. 31. 2012 2) Prepare the retained earnings statement for the year ended in Dec. 31, 2012