Instructions The amounts the assets and liabilities of Journey Travel Agency at December 31, 2019, the end of the year, and its revenue and expenses for the year follow. The reta nec eamings vere $1 341 000 on January 1, 2019, the beginning of the yecr During the year, cluidends of S75,003 vera pelo Accounts payable $ 69,500 Accounts receivable 235,500 190,500 Common stock 450,000 Fans arred 362,50 Land 1,500,000 Marlenecus expense Rent experise Suppies 14,500 22,500 7.000 11.300 Surpies exparse Utilises extre 16,700 Wages experse 170,000 Required Propare an incoms attamen for the year ended Decemcer 31, 2018. Refer to the Account en in the instructors and to the Nsts of Levels ed Around Descriciis provided for the exact way of the rise Cricices for dex! entries. Be sure to concile the staterer beadingia neticas is ineund enter that amount as a negatve number aing a minus sign. A calon walutemateally appear if it is required. ( 2. Predere ledere stolen for the year ende December 31, 2018 Refer to live Accounts given in the instruction and to the Nsis of Label and Amount Descriptions provided for the exact wording or the answer choices for text entre ee sure to compiere the satement reading it and is now or donde word dan onter the amount as a negative rumoerasings mus sign. The word 2033 or at is not needed in the Retained Earrings Sadetient 3 Prepare a balance or as arccember 31, 2018 Peter to the Accounts gwen in the instructions and to the art of Label and Amount Descriptions provided for the exact wording of the answer choices for texternes. Be sure to complete the statement reading 4 Whartom spoors on how the meaned camngs statement and chalance sheet? Labels and Amount Descriptions Labels December 31, 2018 Expenses For the Year Ended December 31, 2018 Amount Descriptions Change in retained earnings Dividends Net income Net loss Retained earnings Retained earnings, December 31, 2018 Retained earnings, January 1, 2018 Total assets Total expenses Total liabilities and stockholders' equity Total stockholders' equity Income Statement 1. Prepare an income statement for the year ended December 31, 2018. Refer to the Accounts given in the Instructions and to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred, enter that amount as a negative number using a minus sign. A colon (:) will automatically appear if it is required. Journey Travel Agency Income Statement (Label) 1 2 (Label) 3 4 4. 5 6 7 8 9 Retained Earnings Statement 2. Prepare a retained earnings statement for the year ended December 31, 2018. Refer to the Accounts given in the Instructions and to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. The word Less or Add is not needed in the Retained Earnings Statement. Journey Travel Agency Retained Earnings Statement (Label) 1 2 3 4 5 Balance Sheet 3. Prepare a balance sheet as of December 31, 2018 Refer to the Accounts given in the instructions and to the lists of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading Journey Travel Agency Balance Sheet (Label) 1 Assets 2 4 Liabilities 8 Stockholders Equity 10 11 12 15 Final Question 4. What item appears on both the retained eamings statement and the balance sheet
