Chapter 1 Problems The Role of Accounting in Business P1-1 Income statement, retained earnings statement, and balance sheet The amounts of the assets and liabilities of Glacier Travel Service as of September 30, 2016, the end of the current year, and its revenue and expenses for the year are listed below. The retained earnings were $150,000 and the common stock was $50,000 as of October 1, 20Y5, the beginning of the current year. Dividends of $10,000 were paid during the year. Obj.4 1. Net income: $115,000 Accounts payable Accounts receivable Cash Common stock Fees earned Miscellaneous expense Rent expense Supplies Supplies expense Taxes expense Utilities expense Wages expense $ 175,000 321,000 166,000 70,000 900,000 37,000 180,000 13,000 38,000 30,000 75,000 425,000 Instructions 1. Prepare an income statement for the current year ended September 30, 20Y6. 2. Prepare a statement of stockholders' equity for the current year ended September 30, 20Y6. 3. Prepare a balance sheet as of September 30, 2016