Problem 1-205 (LO 1-2] Following is a list of financial statement items and amounts for Vantage Service as of 12/31/Year 1, the end of its first year in operation. Accounts Receivable Accounts Payable Cash Common Stock Notes Payable Equipment Sales Revenue Fuel Expense Rent Expense Advertising Expense Salaries and Wages Expense Retained Earnings Dividends $ 41,900 31,900 10,190 21,900 10, 380 50,950 109,500 10,190 11,800 5,190 21,900 21,560 Required: 1. Prepare the Income Statement for the year ended December 31, Year 1. 2. Prepare the statement of retained earnings for the year ended December 31, Year 1. 3. Prepare the balance sheet for the year ended December 31, Year 1. Required 1 Required 2 Required 3 Prepare the Income Statement for the year ended December: VANTAGE SERVICE Income Statement For the Year Ended December 31, Year 1 Revenues: Total Revenues Expenses: Total Expenses Required 1 Required 2 Required 3 Prepare the statement of retained earnings for the year ended December 31, Ye VANTAGE SERVICE Statement of Retained Earnings For the Year Ended December 31, Year 1 Retained Earnings, January 1, Year 1 Retained Earnings, December 31, Year 1 Required 1 Required 2 Required 3 Prepare the balance sheet for the year ended December 31, Year 1. VANTAGE SERVICE Balance Sheet December 31, Year 1 Assets Total Assets $ Liabilities Total Liabilities 0 Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity $