The following information relates to La Greca Co. for the year 2015.

Retained earnings, January 1, 2015 .......$48,000

Dividends during 2015 ........... 5,000

Service revenue .............. 62,500

Salaries and wages expense .......... 28,000

Advertising expense ............. $ 1,800

Rent expense ............... 10,400

Utilities expense ............. 3,100

Instructions

After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2015.