Jenson's Service had the following financial information at the end of 2018.

1/1/18

2018

12/31/18

Accounts Payable

$19,000

Accounts Receivable

25,000

Advertising Expense

$1,000

Cash

16,000

Common Stock

15,000

Dividends

9,000

Equipment

38,000

Notes Payable

20,000

Rent Expense

3,500

Retained Earnings

$6,000

Salaries and Wages Expense

20,000

Service Revenue

55,000

Utilities Expense

2,500

Instructions:

Prepare 2018 income statement, 2018 retained earnings statement, and 12/31/18 balance sheet for Jenson Service.