Question 1 Concord Corporation began operations on January 1,2017. The following information is available for Concord Corporation on December 31,2017 Accounts payable 8,500 Notes payable 14,000 Accounts receivable 5,500 Rent expense Advertising expense 4,280 Retained earnings Cash Common stock Dividends Equipment 13,500 6,600 Service revenue 32,000 18,500 Supplies 6000 Supplies expense 1,420 5,400 30,300 Prepare an income statement for Concord Corporation. Concord Corporation Income Statement For the Month Ended December 31, 2017 For the Year Ended December 31, 2017 December 31, 2017 Prepare a retained earnings statement for Concord Corporation.(List items that increase retained earnings first.) Concord Corporation Retained Earnings Statement Prepare a balance sheet for Concord Corporation. (List assets in order of liquidity) Concord Corporation Balance Sheet Assets Liabilities and Stockholders' Equity