Tim's Cleaning Services has been operating for 5 years. At December 31 of last year, the accounting records reflected the following:

Assets	Amount	Liabilities & Equity	Amount
Cash	$ 33,000	Accounts Payable	$ 20,000
Marketable Securities	12,000	Notes Payable (Short-Term)	18,000
Accounts Receivable	15,000	Long Term Notes Payable	57,000
Equipment	60,000	Common Stock	20,000
Factory	100,000	Additional Paid in Capital	60,000
Intangibles	5,000	Retained Earnings	50,000
Total Assets	$225,000	Total Liabilities & Equity	$225,000

During the current year, the company had the following summarized activities:

1. Purchased equipment for $8,000 cash.
2. Purchase supplies on account for $6,000.
3. Purchased machinery that cost a total of $39,000; paid $5,000 cash and signed a one-year note for the balance.
4. Hired a new president at the end of the year. The contract was for $85,000 per year plus options to purchase company stock at a set price based on company performance.
5. Issued additional shares of common stock for $15,000 cash and $25,000 in equipment.
6. Purchased a new vehicle for $52,000 by putting down $4,000 cash and obtained a four-year note payable from a local bank
7. Purchased Land for $20,000 cash.
8. Performed Services for a customer and received $18,800 cash.
9. Built an addition to the factory for a total cost of $75,000; paid $10,000 in cash and signed a three-year note for the balance.
10. Performed services for a customer on account for $32,600.
11. Paid $7,200 on account.
12. Received $23,100 from a customer on account.
13. Paid expenses: Rent-$2,500, Advertising-$1,000 and Salaries-$5,000
14. Paid dividends $10,000.

Required

1. Create a journal entry for each transaction.
2. Prepare a trial balance as of December 31 of the current year.
3. Prepare an Income Statement of December 31 of the current year.
4. Prepare a Statement of Retained Earnings as of December 31, of the current year.
5. Prepare a Balance Sheet as of December 31, of the current year.
6. Analyze the financial status of the company over this last year. (Don't forget to use ratios.)