On December 31, 2024, Paula Cooking Services reports the following revenues and expenses. Service revenue $ 87,000 Rent expense $ 11,800 Postage expense 2,100 Salaries expense 36,000 Legal fees expense 3,000 Supplies expense 20,500 In addition, the balance of common stock at the beginning of the year was $800,000, and the balance of retained earnings was $56,000. During the year, the company issued additional shares of common stock for $37,000 and paid dividends of $34,000. Required: Prepare an