Instructions The assets and liabilities of Global Travel Agency on December 31, 2045, and its revenue and expenses for the year are as follows: $19,500 Accounts payable Accounts receivable $108,000 539,000 200,000 575,000 Miscellaneous expense Rent expense Supplies 56,000 Cash 6,000 Supplies expense Common stock Fees earned 940,000 Utilities expense 12,700 34,800 415,000 Land 1,500,000 Wages expense Common stock was $525,000 and retained earnings was $1,250,000 as of January 1, 20Y5. During the year, additional common stock of $50,000 was issued for cash, and dividends of $90,000 were paid. Required: 1. Prepare an income statement for the year ended December 31, 2045. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If there is a net loss, enter that amount as a negative number using a minus sign. You will not need to enter colons (:) on the income statement. 2. Prepare a statement of stockholders'equity for the year ended December 31, 2045. Refer to the lists of Accounts, Labels and Amount Descriptions 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. If an amount box does not require an entry, leave it blank. 3. Prepare a balance sheet as of December 31, 20Y5. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. 4. What items appears on both the statement of stockholders'equity and the balance sheet