Pro Power Inc begin with an initial investment of 50,000 cash from the owner. On December 31, 2016 the company record showed the following. Prepare a December 31, 2016 income statement, statement of retained earnings, and balance sheet.

Accounts Payable 12,000

Accounts Receivable 23,000

Cash 17,200

Fees Revenue 30,000

Notes Payable 4,250

Office Furniture 40,000

Dividends 6,000

Rent Expense 3,600

Salary Expense 6,200

Telephone Expense 250