On December 31, 2024, Stardust Inc.s trial balance included the following selected unadjusted account balances. STARDUST LTD. Unadjusted Trial Balance December 31, 2024

Cash $ 8,100

Accounts receivable 5,800

Supplies 750

Equipment 44,000

Accounts payable $ 5,750

Deferred revenue 2,550

Bank loan payable, due 2027 15,900

Retained earnings. 2,900

Common shares 7,600

Dividends declared 550

Service revenue. 37,500

Salaries expense 10,500

Rent expense 2,500

$72,200. $72,200

During 2024, the following events took place, but are not reflected in the above unadjusted trial balance:

(1) One third of the deferred revenue is still unearned at the end of the year.

(2) Supplies on hand total $300 on December 31, 2024.

(3) Depreciation expense of $11,000 was incurred on the equipment.

(4) Income tax payable is estimated to be $4,800.

Adjusting entries are made on an annual basis.

Prepare a statement of income and a statement of financial position for 2024.