Presented here are the accounts ofJesse Daniel Lawn Servicefor the year endedDecember31, 2017. The retained earnings account shows the $52,000 balance as of the end of 2016, which is the beginning balance for 2016.

Land $11,000

Common Stock 34,000

Notes Payable 38,000

Accounts Payable 10,000

Property Tax Expense 3,100

Accounts Receivable 1,600

Dividends 34,000

Advertising Expense 10,000

Rent Expense 8,000

Building 205,400

Salaries Expense 63,000

Cash 4,000

Salaries Payable 1,400

Equipment 14,000

Service Revenue 240,000

Insurance Expense 1,600

Office Supplies 13,000

Interest Expense 6,700

Retained Earnings, 12/31/16 52,000

Requirements

1.

Prepare Jesse Daniel LawnService'sincome statement for the year ended 12/31/2017

2.

Prepare the statement of retained earnings for the year ended 12/31/2017

3.

Prepare the balance sheet as of 12/31/2017