Following is a list of financial statement items and amounts for Tim Burrs Tree Service as of 12/31/X3, the end of its first year in operation. Accounts Receivable $ 42,000 Accounts Payable 32,000 Cash 10,200 Common Stock 22,000 Notes Payable 10,400 Equipment 51,000 Service Revenue 110,000 Fuel Expense 10,200 Rent Expense 11,900 Advertising Expense 5,200 Salaries and Wages Expense 22,000 Retained Earnings ? Dividends 21,900

1. Prepare the Income Statement for the year ended December 31, 20X3.

2. Prepare the statement of retained earnings for the year ended December 31, 20X3.

3. Prepare the balance sheet for the year ended December 31, 20X3.