Problem #4 Debit Credit Cash Accounts receivable $ 5,000 5,270 Supplies 5,060 Prepaid Insurance Equipment Accumulated depreciation-Equipment Accounts payable Long-Term notes payable 1,500 18,400 $1,080 845 9,000 Common stock 5,000 Retained earnings 7,505 Dividends 2,900 Service fees earned 70,400 13,000 Rent expense 33,400 Salaries expense Supplies expense 4,700 Insurance expense Depreciation expense-Equipment 3,250 720 630 Interest expense Totals $93,830 $93,830 Required: Prepare an Income Statement, a statement of Retained Earnings and a Balance Sheet. Also, calculate profit margin, current ratio, working capital, assets turnover and debt ratio.