Following is an alphabetical list of the assets, liabilities, revenues, and expenses of Keykin Inc. Prepare a) an income statement for the year ended September 30, 2017. (10 marks)

**Note, not all balances are debits.

Accounts payable $2,800 Note payable $5,000

Accounts receivable 5,400 Rent expense 8,200

Advertising expense 4,600 Salary expense 14,100

Cash 6,100 Salary payable 900

Cost of goods sold 21,700 Sales revenue 80,800

Inventory 5,900 Interest expense 800

Utilities expense 700

b) Using Net Income or Net Loss as per the Income Statement, prepare the Keykin Inc. Statement of Retained Earnings for the year ended September 30, 2017. During the year, $2,000 in dividends were paid out to shareholders. Opening retained earnings as of October 1^st, 2016 totaled $23,000.