Assume that the business began operations on January 1, 2016. Prepare the financial statements in the proper order. Use proper financial statement formatting, Enter amounts to be subtracted with a minus sign or parentheses. SMART TOUCH LEARNING Statement of Net Income For Year Ended 12/31/2016 SMART TOUCH LEARNING Statement of Retained Earnings For Year Ended December 31, 2016 Service Revenue Reed Earnings, December 31, 2015 Rent Expense 2.400 Add: Net Income Insurancexperte 5200 Sub 4600 Income Tax Experts Les Dividends Declared Salaries Expense 2200 Retained Earnings, December 31, 2016 400 Supplies Expense Depreciation Expense - Furniture 300 100 utslities Expense Total Expenses 17,200 Net Income SMART TOUCH LEARNING Balance Sheet December 31, 2016 Assets Cash 3,300 Accounts Receivable 12,200 Office Supplies 800 Prepaid Rent 1,600 Prepaid Insurance 5,900 Furniture Accumulated Depreciation - Furniture (380) Total Assets 41,820 Liabilities Accounts Payable 300 Salaries Payable 800 Utilities Payable 100 Income Tax Payable Unearned Revenue 400 Notes Payable 17,620 Total Liabilities 24,120 Stockholders' Equity Common Stock 9,400 Retained Earnings 17,700 Total Stockholder's Equity 41,820 Total Liabilities and Stockholder's Equity