Presented below are the amounts of

(a) the assets and liabilities of Shelby Delivery Ser-vice, Inc., as of December 31 and

(b) the revenues and expenses of the company for the year endedon that date. The items are listed in alphabetical order.

The beginning amount of retained earnings was \(\$ 11,000\), and during the year dividendswere \(\$ 42,000\).Required1. Prepare the income statement of Shelby Delivery Service, Inc., for the year ended December31 of the current year.2. Prepare the statement of retained earnings of the company for the year ended December 31 .3. Prepare the balance sheet of the company at December 31 .

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Accounts payable Accounts receivable. Building.. Cash..... $12,000 26,000 Land. 6,000 Note payable. Property tax expense. $ 8,000 31,000 2,000 4,000 Rent expense. 14,000 Common stock. 10,000 Salary expense. 38,000 Equipment 21,000 Service revenue 120,000 Interest expense 4,000 Supplies. 17,000 Interest payable........ 1,000 Utilities expense.. 3,000