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Labels and Amount Descriptions Income Statement Retained Earnings Statement Balance Sheet Final Question Instructions Required: 1. Prepare an income statement for the year ended December 31, 2018. Refer to the list of Accounts Labels, and Amount Descriptions provided for the axact wording of the answer choices for text entries. Be sure to complete the statement heading. I a ner loss is incurred, enter that amount as a negative number using a minus sign. A colon () will automatically appear if it is required 2. Prepare a retained earrings statement for the year ended December 31, 2018. Refer to the information given and the lists of Accounts Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading a net losses incurred or dividends were puid, enter that amount as a negatve number using a minus sign. The word "lessor "Ado" is not needed in the Retained Earnings Statement 3. Prepare a balance sheet as of December 31, 2018. Refer to the list of Accu Labels, and Amount Descripcions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading, 4 What appears on both the retained earnings statement and the balance sheer? Financial statements Income Statement Retained Earnings Statement Instructions Labels and Amount Descriptions Amount Descriptions Change in retained earnings Dividends Net income Net loss Pe lists of Accounts, Labels, and Amou the statement heading. If a ner loss ist ppear if it is required Refer to the information given and the lis or text entries. Be sure to complete the s ber using a minus sign. The word "Less Retained earnings Retained earnings, December 31, 2018 Retained earnings. January 1, 2018 Total assets Total expenses Total liabilities and stockholders equity Total stockholders' equity Labels, and Amount Descriptions prov heading Per? Income State Retained Camings Statement Balance Sheet Final Question Income Smart 1. Prepare an come the year and December 31, 2018 Rebel Ansabel and Ameron provided for the exact word the new choices for the www to completament reading me out as an adherunder sig ammung, Ace () will stomatically powered Journey Travel Agency Income Label Label Financial statements Instructions Income Statement Retained Earings Statement Balance Sheet Final Question Retained Earnings Statement 2. Prepare a paired wings stafettent for the year ended December 31, 2018 Refer to the information given and the lists of Accounts, Label and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement haching. Wanelons 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 Road Earnings Statement Journey Travel Agency Retained Eamings Statement bal 2 3 Income Statement Retained Earnings Sent Budak S Fira Question ta Pheas December 31, IAR CA Awww teen home reme meyvel Agency Balance sheet Lab Asti Story Financial statements Labels and Amount Descriptions Income Statement Retained Earnings Statement Balance SE Instructions The amounts of the assets and liabilities of Journey Travel Agency at December 31, 2018, the end of the year, and its revenue and expenses for the year follow. The retained earnings were $625,000 on January 1, 2018, the beginning of the year. During the year, dividends of $41,000 were paid. Accounts payable Accounts receivable Cash Common stock $ 68,500 274,000 187,500 70,000 869,200 544,000 6,500 Fees earned 40,000 Land Miscellaneous expense Rent expense Supplies Supplies expense Utilities expense Wages expense 5,300 4,400 27.000 503,000 Check My Work