Angela Lopez owns and manages a consulting firm called Metrix, which began operations on March 1. On March 31, Metrix shows the following selected accounts and amounts for the month of March. Equipment $11,500 Salaries expense 4,500 Office supplies Rental revenue $3,000 2,000 Consulting revenue 19,500 Advertising expense 700 Cash 11,000 Prepaid insurance 2,500 Utilities expense 500 Accounts payable 6,100 Note payable 3,900 Note receivable 4,000 Accounts receivable 5,000 Rent expense 3,500 Common stock 17,600 Unearned revenue 600 Dividends 3,500 Required: 1. Prepare a March income statement for the business. 2. Prepare a March statement of retained earnings. The Retained Earnings account balance at March 1 was $0. 3. Prepare a March 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2.