Q$3.$ Based on the following trial balance for United Co$,$ prepare an income statement, statement of retained earnings and a balance sheet. The company made no additional investments in the company during the year.

United Co$.$

Trial Balance

December $31$

Cash SR $7,000$

Accounts receivable $475$

Supplies $2,500$

Equipment $17,000$

Accounts payable SR $1220$

Common stock $10,000$

Retained earnings $11,155$

Dividends $36,000$

Revenue earned $72,000$

Supplies expense $3,400$

Rent expense $6,000$

Wages expense $22,000$

Totals SR$94,375$ SR$94,375$