The asset, liabilities, and equities of Rivett Design Studio have the following balances at December 31,...

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The asset, liabilities, and equities of Rivett Design Studio have the following balances at December 31, 2025. The Retained Earnings was $41,000 at the beginning of the year. At year end, Common Stock was $12,000 and Dividends were $52,000. View the account balances. Prepare the income statement for Rivett Design Studio for the year ending December 31, 2025. Net Income Account Balances Notes Payable $ 12,500 Office Furniture $ 21,600 Rent Expense Cash 26,000 3,000 Utilities Expense 6,200 Accounts Payable 3,700 Supplies 5,000 Service Revenue 130,800 Salaries Expense 71,000 Accounts Receivable 10,200 Property Tax Expense 1,400 Miscellaneous Expense 3,600 Print Done The asset, liabilities, and equities of Rivett Design Studio have the following balances at December 31, 2025. The Retained Earnings was $41,000 at the beginning of the year. At year end, Common Stock was $12,000 and Dividends were $52,000. View the account balances. Prepare the income statement for Rivett Design Studio for the year ending December 31, 2025. Net Income Account Balances Notes Payable $ 12,500 Office Furniture $ 21,600 Rent Expense Cash 26,000 3,000 Utilities Expense 6,200 Accounts Payable 3,700 Supplies 5,000 Service Revenue 130,800 Salaries Expense 71,000 Accounts Receivable 10,200 Property Tax Expense 1,400 Miscellaneous Expense 3,600 Print Done