hop 07 Terrell Company reported the following data at the end of its first year of operations on December 31 points Equipment Accounts payable Common stock Dividends Services revenue Rent revenue Salaries expense Advertising expense Utilities expense $ 19,500 8,500 23,500 6,500 52,500 10,500 38,500 4,500 2,500 eBook (a) Prepare its year-end income statement (b) Prepare its year-end statement of retained earnings, using net income calculated in part a. Hint: Retained Earnings on January 1 was $0. Print References Complete this question by entering your answers in the tabs below. Required A Required B Prepare its year-end Income statement. TERRELL COMPANY Income Statement For Year Ended December 31 Revenues Total revenue Expenses C aw Il