P2-3 Financial statements The following amounts were taken from the accounting records of Dust, Sweep, Repeat Services, Inc., as of December 31, 20Y7. The company began its operations on January 1, 20Y7. $ 12,000 Cash Common stock Dividends 15,000 3,000 Fees earned 124,000 960 Interest expense Land 43,000 Miscellaneous expense 2,040 16,000 Notes payable 14,000 S Rent expense Salaries expense 54,400 2,600 Taxes expense Utilities expense 8,600 17,000-85,000 5,000 Instructions 1. Prepare an income statement for the year ended December 31, 20Y7. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2017. 3. Prepare a balance sheet as of December 31, 20Y7. 4. Prepare a statement of cash flows for the year ended December 31, 20Y7.