I was trying to recognize what I did wrong for this problem, but I was not able to do that because of lack of my accounting skill. I completed making the income statement, statement of retained earning, and balance sheet. However, those seem to be wrong. Can you help me recognizing what are wrong? Pictures under (Work 1) are what I completed, and the picture under (Work 2) is the work I previously completed and I used (Work 2) to make the (Work 1). The (Work 1) contains pictures (1, 2, 3, 4), and (Work 2) contains picture (5.)

(Work 1)

(Work 2)

961,000 306,000 203,500 168.800 110.500 1,749,800 705,000 189.140 105,300 84,740 1,084,180 665,620 38.500 704, 120 303.422 Ozark Dock and Lite Company Income Statement For the Year Ended December 31, 2016 Sales Piers and lift sales Custom dock sales Seawall installations Pier and lift installation Sports equipment sales Net sales Cost of goods sold Cost of sales - piers and lifts Dock part costs Seawall costs Sports equipment cost of goods sold Cost of goods sold Gross profit Service revenue Sports equipment rental revenue Total operating revenue Operating expenses Selling expenses Payroll tax expense 26 242 Labor expense 232,000 Fuel expense 6,300 Advertising expense 38,880 Administrative expenses Salaries expense 111.000 Utilities expense 20,400 Insurance expense 28,100 Maintenance expense 16.900 Professional fees expense 7,995 Supplies expense 12,600 Depreciation expense - building 20,000 Depreciation expense - barge 6.500 Depreciation expense - trucks 17,000 Depreciation expense - tools 2.200 Bad debt expense 13,165 Property tax expense 8,000 Operating income Other revenue and gains Gain on sale of foxed asset 1.450 Exchange Gain 300 Unrealized gain/loss on investments Other expenses and losses Interest expense 29,390 Inventory writedown 2,700 Estimated losses 7,000 Income before income tax Income tax Net income for the year Earnings per share 263,860 567 282 136,838 3.400 5,150 39,090 102.898 (30,869) $72.029 $7.20 Ozark Dock and Life Company Statement of Retained Earnings For the Tear Ended December 31, 2016 Retained Earnings December 31, 2015 Add: net income Less: prior period adjustment 158,791 72,029 (2,800) 228,020 (10,000) 218,020 Less: dividends declared Retained Earnings December 31, 2016 27,103 203,992 85,575 (9,915) Ozark Dock and Life Company Balance Sheet December 31, 2016 Assets Current assets Cash-checking Cash-money market Accounts receivable Less: Allowance for bad debts Rebates receivable Trading investments Trading Invest Market Adj Inventory, piers and lifts Inventory, dock parts Inventory, sports equipment Supplies Pre-paid expense Security deposit Total current assets Plant, property, and equipment Land Buildings Less: Accumulated depreciation- buildings Barge Less: Accumulated depreciation - barge Trucks Less: Accumulated depreciation- Trucks Tools Total plant, property, and equipment Total assets 75,660 10,000 12,000 3,400 93,600 2,260 31,000 2,100 16,100 2,000 479,215 120,000 280,000 450,000 (170,000) 78,000 (32,500) 110,000 (38,000) 45,500 72,000 7,500 525,000 1,004,215 4,000 84,300 10,706 1,989 1,300 30,240 9,880 1,200 120,000 Liabilities and stockholders' equity Current liabilities Customer deposits Accounts payable Wages payable FICA and Medicare payable State sales tax payable Payroll tax withholdings Federal income taxes payable Estimated liabilities Accrued interest payable Notes payable Deferred revenue Deferred sports rental Gift certificate liability Installment contracts payable Total current liabilities Long-term liabilities Mortgage payable Installment contracts payable Total long-term liabilities Total liabilities Stockholders' equity Common stock Paid-in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 9,000 3,250 40,000 315,865 269,000 40,000 309,000 624,865 10,000 190,000 200,000 218,020 418,020 1,042,885 961,000 168,800 306,000 203,500 110,500 43,500 4,500 900 961,000 168,800 306,000 203,500 110,500 38,500 4,500 900 161 9,000 5 4,000 Income Statement 961,000 168,800 306,000 203,500 110,500 38,500 4,500 900 1,450 3,400 705,000 189,140 105,300 84,740 1,450 1,450 20 3,400 3,400 4a 3,000 702,000 189,840 105,300 11 700 101 102 103 104 105 106 107 109 110 111 201 203 204 205 206 210 311 312 313 314 315 316 317 318 319 320 705,000 189,1401 105,3001 84,740 8a 31,000 89,200 89,200 4,060 8a 115,740| Bb 8a 4,060 4,000 9,000 995 10 10 10 3 Pier and Lift Sales Pier and lift installation labor Custom Dock Sales Seawall installations Sports equipment sales Sports equipment rental revenue Permit fee revenue Interest revenue Gain/Loss on sale of fixed assets Unrealized gain/loss marketable Cost of sales-piers and lifts Dock parts costs Seawall costs Sports equipment Cost of Goods Sports equipment purchases Purchase discounts taken Salaries expense Labor expense Payroll tax expense Utilities expense Insurance expense Maintenance expense Fuel expense Property tax expense Advertising expense Supplies expense Professional fees expense Freight in Interest expense Bad debt expense Depreciation expense-buildings Depreciation expense-barge Depreciation expense-trucks Depreciation expense-tools Inventory write-down Exchange Gain/Loss Estimated losses Income tax expense Totals Net Income before tax Income Tax Expense Income Tax Payable Net Income after Tax Ending Retained Earnings 12,100 107,000 223,000 25,247 20,400 40,200 16,900 6,300 12,000 40,080 12,900 9,795 5,600 28,190 5,137 111,000 232,000 26,242 20,400 28,100 16,900 6,300 8,000 38,880 12,600 111,000 232,000 26,242 20,400 28,100 16,900 6,300 8,000 38,880 12,600 7,995 15 12 7 18 4,000 1,200 300 1,800 5,600 321 7,995 14 6 1 322 323 324 331 333 335 337 340 341 350 399 2b 2c 8a 1,200 8,028 20,000 6,500 12,000 2,200 2,700 300 7,000 5,000 29,390 13,165 20,000 6,500 17,000 2,200 2,700 300 7,000 29,390 13,165 20,000 6,500 17,000 2,200 2,700 300 7,000 13 40 17 9 2,887,968 2,887,968 269,523 t 31,440 399 606 269,523 2,960,931 2,960,931 1,692,302 1,797,100 104,799 31,440 31,440 73,359 1,797,100 1,797,100 t