Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) Common stock Retained earnings Dividends Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $ 27,000 1,600 6,200 75,000 $ 23,000 8,000 8,500 10,500 16,500 6,500 64,500 4,600 7,500 2,600 $131,000 $131,000 QS 3-22 Preparing financial statements LO P6 Required (1) Prepare an income statement for the year ended December 31. (2) Prepare a statement of retained earnings for the year ended December 31