Income Statement Sales revenue $90,000 Less: Operating expenses S58,700 Other expenses Net income S 7,850 S23,450 Retained earnings statement Retained earnings, beginning balance S Net income Dividends Retained earnings, ending balance S21,500 S23.450 s (1950) Balance sheet Cash Accounts receivable Supplies Equipment Total assets S 13,300 S 9,550 S 5,000 S 86,000 S113,850 Accounts payable Notes payable Common stock Retained earnings Total liabilities and equity S 32,100 S 1,160 S 59,090 S 21,500 S113.850