This information relates to Connor Co. for the year 2007.

and retained earnings i statement. Retained earnings, January 1, 2007 $64,000

(SO 4) Advertising expense 1,800 Dividends paid during 2007 6,000 Rent expense 10,400 Service revenue 58,000 Utilities expense 2,400 Salaries expense 30,000 Instructions After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2007.