|Below are account balances of company for the period ended 12/31/17. Use them to prepare an income statement for the period ended 12/31/17 and a balance sheet as of 12/31/17 Normal Normal Account Name Account Name Balance Balance $20,000 $50,000 Cash Retained Earnings, 1/1/17 Accounts Receivable $30,000 $120,000 Sales revenue $10,000 $80,000 Inventory Wages Expense $70,000 $60,000 Equipment, net Rent Expense Accounts Payable $20,000 $10,000 Depreciation Expense Notes Payable $10,000 $40,000 Dividends Common Stock $60,000 Normal balance means what the expected balance would be for this account (debit for assets and expenses and credit for liabilities, equities and revenues)