PREPARE FINANCIAL STATEMENTS. An analysis of the 19x8 transactions for Hanover Rug Cleaners, a corporation owned by Jane Hanover, reveals the following end-of-the-year balances and changes in owners’ equity:

REQUIRED:
1. Prepare the balance sheet for Hanover Rug Cleaners at December 31, 19x8.
2. Prepare the income statement for Hanover Rug Cleaners for the year ended December 31, 19x8:
3. Prepare the statement of changes in retained earnings for Hanover Rug Cleaners for the year ended December 31, 19x8. L-0

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Accounts payable Accounts receivable Cash Equipment Capital stock Land.. Notes payable Other expenses Rent expense.. Salaries expense Service revenue Supplies .. Supplies expense Dividend Retained earnings, 12/31/x8 $ 1,900 2,500 700 21,000 20,000 9,000 10,000 1,200 8,400 26,000 43,000 2,100 5,700 500 ?