$1.$

Prepare West Company's income statement for the year ended December $31,2025.$

$2.$

Prepare the statement of retained earnings for the year ended December $31,2025.$

$3.$

Prepare the balance sheet as of December $31,2025.$

Land

$$8,000$

Common Stock

$$28,000$

Notes Payable

$32,000$

Accounts Payable

$11,000$

Property Tax Expense

$2,600$

Accounts Receivable

$1,000$

Dividends

$30,000$

Advertising Expense

$15,000$

Rent Expense

$13,000$

Building

$145,200$

Salaries Expense

$65,000$

Cash

$3,000$

Salaries Payable

$1,300$

Equipment

$16,000$

Service Revenue

$192,000$

Insurance Expense

$2,500$

Supplies

$10,000$

Interest Expense

$7,000$

Retained Earnings, Dec. $31,2024$

$54,000$