EXERCISE #2 Below are the account balances for Cowboy Law Firm at the end of December Accounts Balances $5,400 Cash Salaries expense 2,200 Accounts payable 3,400 Retained earnings 3,900 Utilities expense 1,200 Supplies 13,800 Service revenue 9,300 Common stock 6,000 Required: Use only the appropriate accounts to prepare an income statement Wolfpack Construction has the following account balances at the end of the year Accounts Balances $26,000 Equipment 3,000 Accounts payable Salaries expense 33,000 Common stock 11,000 Land 18,000 Notes payable 20,000 Service revenue 39,000 Cash 6,000 Retained earnings ? Required: Use only the appropriate accounts to prepare a balance sheet