Following is a list of financial statement items and amounts for Vantage Service as of 12/31/Year 1, the end of its first year in operation.

Accounts Receivable	$	40,800
Accounts Payable		30,800
Cash		10,080
Common Stock		20,800
Notes Payable		10,160
Equipment		50,400
Sales Revenue		104,000
Fuel Expense		10,080
Rent Expense		10,700
Advertising Expense		5,080
Salaries and Wages Expense		20,800
Retained Earnings		?
Dividends		17,820

Required:

1. Prepare the Income Statement for the year ended December 31, Year 1.
2. Prepare the statement of retained earnings for the year ended December 31, Year 1.
3. Prepare the balance sheet for the year ended December 31, Year 1.