A company provides the following account balances at year end (except for Retained Earnings, which is the beginning balance). CFO has asked you to use this information to prepare an income statement and balance sheet. Expenses: Advertising expense Insurance expense $15,000 24,000 Assets: Cash $32,000 Salaries expense 68,000 Accounts receivable Supplies 29,000 16,000 Rent expense 8,000 Land 75,000 Liabilities: Salaries payable 12,000 Revenues: Dividends: Notes payable Dividends 30,000 Service revenue Interest revenue 134,000 9,000 7,000 Equity: Common stock Retained earnings 62,000 27,000 Required: 1. Use the information provided to complete the income statement. 2. Use the information provided to complete the balance sheet. 3. Use a conditional statement to evaluate whether the accounting equation balances. 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect.