At the end of its first year of operations, the records of Roadmaster Auto Rentals show the following information. The beginning common stock balance and the retained earnings balance was $0. The owner invested $150,000 in common stock during the year. The company declared a $52,000 cash dividend which was paid during the year. Prepare a December income statement, a December statement of retained earnings, and a December 30 balance sheet. Accounts payable $36,000 Wages expense $75,000 Insurance expense 2,000 Advertising expense 22,000 Accounts receivable 24,000 Cash 11,000 Common stock 150,000 Office Furniture 15,000 Airplanes 150,000 Maintenance expense 39,000 Notes payable 47,000 Revenues 217,000 Hangar 60,000 What is the Net Income