P1-42A (open response) Presented here are the accounts of Beautiful You Salon for the year ended December 31, 2018. (Click the icon to view the accounts.) Requirements 1. Prepare Beautiful You Salon's income statement. 2. Prepare the statement of retained earnings. 3. Prepare the balance sheet. Requirement 1. Prepare Beautiful You Salon's income statement. (Check your spelling carefully and do not abbreviate. When applicable, use only the account names provided in the problem statement.) Data Table -X $ S Land Notes Payable Property Tax Expense Dividends Rent Expense Salaries Expense Salaries Payable Service Revenue Office Supplies Retained Earnings, Dec. 31, 2017 8,000 37,000 3,000 30,000 15,000 60,000 1,800 190,000 16,000 Common Stock Accounts Payable Accounts Receivable Advertising Expense Building Cash Equipment Insurance Expense Interest Expense 32,000 10,000 1,000 18,000 145,400 2,200 13,000 2.100 7.100 Net Income 50,000 Print Done