Question 3 (38 marks) Using the information below, prepare (in good format), the income statement, statement of retained earnings and the balance sheet for Loft Enterprises Incorporate for the fiscal year end, December 31, 2020: Account Dividends Cash Building Retained Earning, beginning balance Office Expense Equipment Interest Payable Miscellaneous Expense Prepaid Expense Accounts Payable Service Revenue Accounts Receivable Rent Expense Common Shares Interest Expense Land Wages Expense Note Payable Property Tax Expense December 31, 2020, account balance $20,000 $41,000 $80,000 $52,300 $15,000 $60,000 $5,500 $8,500 $3,000 $47,200 $240,000 $13,000 $40,600 $40,000 $9,200 $58,000 $85,000 $55,600 $7,300