Dream Photography works weddings and prom$-$type parties. The balance of retained earnings was $$22,000$ at December $31,2017.$ At December $31,2018,$ the business's accounting records show these balances

I: $($Click the icon to view the accounts.$)$

Prepare the following financial statements for Dream Photography for the year ended December $31,2018$ :

a$.$ Income statement.

b$.$ Statement of retained earnings

c$.$ Balance sheet

b$.$ Prepare Dream Photography's statement of retained earnings.

Retained Earnings, D

c$.$ Prepare Dream Photography's balance sheet. $($If a box is not used in the table leave the box empty, do not

$\backslash$table$[[,]]$

Data table

$\backslash$table$[[$Insurance Expense,s$,10\mathrm{.}000,$Accounts Receivable,$8\mathrm{.}000],[$Cash$,,41,000,$Notes Payable,$11\mathrm{.}000],[$Accounts Payable,,$5\mathrm{.}000,$Retained Earnings, Dec. $31,2018,],[$Advertising Expense,,$2\mathrm{.}500,$Salaries Expense,$28\mathrm{.}000],[$Service Revenue,,$100,000,$Equipment,$72,500],[$Dividends$,,10,000,$Common Stock,$32,000]]$