Prepare an income statetement, a statement of retained earnings and a balance sheet.

In the space below and on the next page, prepare an income statement, a statement of retained camnings and a balance sheet for Wallace Auto Repair, Inc. from the items listed below for the month ended December 31, 2018. Each statement should have the proper title. Retained earnings, December 1 Common stock Accounts payable Equipment Service revenue Dividends Supplies expense $14,000 $32,000 $9,000 $32,000 $50,000 $8,000 $5,500 $22,000 $1,700 $4,800 $11,000 $16,000 $4,000 Cash Utilities expense Supplies Salaries expense Accounts receivable Rent expense