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	$	41,900
Accounts Payable		31,900
Cash		10,190
Common Stock		21,900
Notes Payable		10,380
Equipment		50,950
Service Revenue		109,500
Fuel Expense		10,190
Rent Expense		11,800
Advertising Expense		5,190
Salaries and Wages Expense		21,900
Retained Earnings		?
Dividends		21,560

Required:

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.