Required information [The following information applies to the questions displayed below.) The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Prepaid Rent office Expense Retained Earnings (beginning) Salaries and Wages Expense Service Revenue Utilities Expense Salaries and Wages Payable $ 57,000 34,800 113,900 96,000 140,000 0 148,700 11,300 30,700 18,400 35,700 8,200 15,500 12,300 36,900 161,800 26,300 20,000 Other cash flow information: Cash from issuing common stock Cash paid to reacquire common stock Cash paid for income taxes Cash paid to purchase long-term assets Cash paid to suppliers and employees Cash received from customers $ 33,000 37,700 12,200 64,400 97,600 161,000 Required: 1. Prepare an income statement for 2016. . NICE BITE, INC. Income Statement For the Year Ended December 31, 2016 Revenues Service Revenue Total Revenues 0 0 2. Prepare a statement of retained earnings for 2016. NICE BITE, INC. Statement of Retained Earnings Retained Earnings, January 1, 2016 Retained Earnings, Decemeber 31, 2016 $ 0 3. Prepare a balance sheet for 2016. NICE BITE, INC. Balance Sheet $ $ 0 0 0 $ $ 0 4. Prepare a statement of cash flows for 2016. (Cash outflows should be entered as negative amounts.) NICE BITE, INC. Statement of Cash Flows Cash Flows from Operating Activities $ 0 Cash Flows from Investing Activities o Cash Flows from Financing Activities 0 0