Given the following transactions for the year, prepare the income statement for World Co. for the year ended December 31, 2018.

Rental revenue of $15,000

Wages expense of $3,500

Rental expense of $5,300

Miscellaneous expense of $1,200

Create World Co.s statement of owners equity. At the beginning of the year, John Greens owner capital account had a balance of $12,000, with the following changes during the year:

Additional cash contributions of $1,500

Cash withdrawals of $2,100

Prepare World Co.s balance sheet if the company had the following balances:

Accounts payable: $2,300

Inventory: $5,000

Accounts receivable: $1,400

Cash: $1,500

Property, plant, and equipment: $12,000

Notes payable: $1,200