The accounts of Frequent Ad, an agency that develops marketing materials for print, radio, and television, follow. The agency's first year of operations just ended on January 31, 2014.

Required
1. Prepare Frequent Ad's income statement, statement of retained earnings, and balance sheet.

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Accounts Payable Accounts Receivable Advertising Service Revenue 165,200 Office RenExnse Cash Common Stock Dividends Equipment Rental Expense37,200 Supplies Expense Income Taxes Expense $19,400 ncome Taxes Payable 24,900 Marketing Expense $ 560 6,800 13,500 86,000 1,300 1,600 19,100 1,800 5,000 Salaries Expense Salaries Payable 0 Supplies 560