Exercises: Set B 1 Exercises: Set B E1-1B This information relates to Laver Co. for the year 2012. Retained earnings, January 1, 2012 $74,000 Advertising expense 2,800 Dividends paid during 2012 6,000 Rent expense 11,400 Service revenue 68,000 Utilities expense 3,400 Salaries and wages expense 37,000 Instructions After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2012