Problem 1-3A Preparing an Income statement LO P2 As of December 31, 2017, Armant Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Comon stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue "Rental revenue Salaries expertise Rent expense Selling and administrative expenses $11,6ee 10,600 7,600 6. Gee 16, 380 12,500 5,600 7,600 14,600 36,200 25,200 21,600 13,600 9,600 Required: Prepare the 2017 year-end Income statement for Armani Company ARMANI COMPANY Income Statement For Year Ended December 31, 2017 Revenues $ 0 Total revenues Expenses Total expenses 0 As of December 31, 2017. Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable Connon stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,100 1e, 100 7. 109 6,100 9,300 18,000 5, 100 7, 100 14, 100 35,200 24,200 21,100 13,180 9,1ee Required: Prepare a year-end balance sheet for Armani Company ARMANI COMPANY Balance Sheet December 31, 2017 Liabilities Assets Total liabilities Equity Total equity 0 Total liabilities and equity Total assets $ $ 0