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. 9 $ 40,600 30, 600 Accounts Receivable Accounts Payable Cash Common Stock Notes Payable Equipment Sales Revenue Fuel Expense Rent Expense Advertising Expense Salaries and Wages Expense Retained Earnings Dividends 10,060 20,600 10,120 50, 300 103,000 10,060 10,500 5,060 20,600 2 17,140 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the Income Statement for the year ended December 31, Year 1. VANTAGE SERVICE Income Statement For the Year Ended December 31, Year 1 Revenues: Total Revenues $ 0 Expenses 9 10.500 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 $ 40,600 Accounts Payable 30, 600 Cash 10,060 Common Stock 20,600 Notes Payable 10,120 Equipment 50, 300 Sales Revenue 103,000 Fuel Expense 10,060 Rent Expense Advertising Expense 5,060 Salaries and Wages Expense 20,600 Retained Earnings 2 Dividends 17,140 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the statement of retained earnings for the year ended December 31, Year 1. VANTAGE SERVICE Statement of Retained Earnings For the Year Ended December 31, Year 1 Retained Earings, January 1, Year 1 Retained Eamings, December 31, Year 1 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. 9 Accounts Receivable Accounts Payable Cash Connon Stock Notes Payable Equipment Sales Revenue Fuel Expense Rent Expense Advertising Expense Salaries and Wages Expense Retained Earnings Dividends $ 40,600 30,600 10,060 20,600 10,120 50, 300 103,000 10,060 10,500 5,060 20,600 2 17,140 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the balance sheet for the year ended December 31, Year 1. VANTAGE SERVICE Balance Sheet December 31, Year 1 Assets Total Assets $ 0 Liabilities