Reagan Sakai is in charge of financial management for Land Monitrix. Land Monitrix utilizes satellite technology and sophisticated mapping software to alert its customers to trespassing, illegal dumping, and other encroachments on property these customers own around the globe. Customers typically purchase one-year contracts for this service, and the pricing depends on the number and size of sites monitored.

Mr. Sakai desires to review financial reports -- an income statement, statement of retained earnings, and balance sheet. Prepare these reports from the following adjusted trial balance. Mr. Sakai needs this information for internal review purposes, and does not require a classified balance sheet. The operating data relate to the full year.

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LAND MONITRIX CORPORATION Adjusted Trial Balance As of December 31, 20X5 Cash Accounts receivable Prepaid expenses Supplies Satellite equipment Accumulated depreciation Debits Credits $ 834,221 345,909 45,787 66,665 3,009,000 $1,222,199 544,190 Accounts payable Unearned revenues 455,000 Loan payable 1,000,000 Capital stock 560,000 Retained earnings, Jan. 1 228,892 Dividends 50,000 Revenues 2,373,402 Selling expenses 476,445 Interest expense 80,000 Salaries expense 677,667 Maintenance and supplies expense 222,989 Depreciation expense 575,000 $6,383,683 $6,383,683