Required information

$[$The following information applies to the questions displayed below.$]$

On January $1,2024,$ Red Flash Photography had the following balances: Cash, $$22,000$; Supplies, $$9,000$; Land, $$70,000$; Deferred Revenue, $$6,000$; Common Stock $$60,000$; and Retained Earnings, $$35,000.$ During $2024,$ the company had the following transactions:

February $15$ Issue additional shares of common stock, $$30,000.$

May $20$ Provide services to customers for cash, $$45,000,$ and on account, $$40,000.$

August $31$ Pay salaries to employees for work in $2024,$$$33,000.$

October $1$ Purchase rental space for one year, $$22,000.$

November $17$ Purchase supplies on account, $$32,000.$

December $30$ Pay dividends, $$3,000.$

The following information is available on December $31,2024$:

Employees are owed an additional $$5,000$ in salaries.

Three months of the rental space have expired.

Supplies of $$6,000$ remain on hand.

All of the services associated with the beginning deferred revenue have been performed.

Prepare an income statement, statement of stockholders' equity, and classified balance sheet.

Complete this question by entering your answers in the tabs below.

Income Statement

Statement of Stockholders

Equity

Balance Sheet

Balance Sheet

Prepare an income statement.

$\backslash$table$[[$RED FLASH PHOTOGRAPHY$],[$Income Statement$],[$For the Year Ended December $31,2024],[,],[,],[$Expenses:$],[],[,],[,],[3,],[,],[$Total Expenses,$0],[,,]]$

Statement of Stockhol