QUESTION 1 (28 marks)

The following balances are extracted from the books of Vander Company at the end of December 31, 2020:

$

Accumulated depreciation - equipment	18,500
Accounts payable	31,580
Salary payable	l 0,500
Share capital	70,000
Retained earnings	49,500
Unearned service revenue	25,800
Depreciation expense - equipment	3,800
Sala,y expense	74,100
Rental expense	180,000
Supplies expense	2,450
Service revenue	289,000
Cash	11,050
Accounts receivable	125 ,780
Supplies	3 ,500
Prepaid rent	30,000
Equipment	46,200
Dividends	18,000
Required:

1. Prepare the Income Statement of Vander Company for the year ended December 31 , 2020. (7 marks)

2. Prepare the Statement of Retained Earnings of Vander Company for the year ended December 31, 2020. (5marks)

3. Prepare the Statement of Financial Position ofVander Company as at December 31, 2020. (I 6 marks)