Requirement 1. Prepare the income statement for the year ending December 31, 2018. (Use a minus sign or parentheses to show a net loss. If a box is not used in the statement, leave the box empty; do not sel Salem Advertising Services Income Statement Year Ended December 31, 2018 Net Income (Loss) Requirement 2. Prepare the statement of owner's equity for the year ending December 31, 2018. Assume that there were no contributions made by the owner during the year. (Use a zero-balance events for the period from the statement of owner's equity.) Salem Advertising Services Statement of Owner's Equity Year Ended December 31, 2018 Corsner, Capital, January 1, 2018 Corsner, Capital, December 31, 2018 Salem Advertising Services Balance Sheet December 31, 2018 Assets II Less: Less: Liabilities Owner's Equity Cash $ 14,300 Accounts Receivable 14,000 Office Supplies 7,400 Land 18,700 50,000 $ 35,100 17,800 Building Accumulated DepreciationBuilding Furniture Accumulated DepreciationFurniture Accounts Payable Salaries Payable 13,900 9,500 7,500 13,500 Unearned Revenue 65,100 Corsner, Capital Corsner, Withdrawals 17,200 Service Revenue 48,100 Salaries Expense 29,500 8,800 Supplies Expense Depreciation ExpenseBuilding 2,400 Donrocistian Cynance Furniture 600 Land 18,700 50,000 Building Accumulated DepreciationBuilding $ 35,100 Furniture 17,800 Accumulated DepreciationFurniture 13,900 Accounts Payable 9,500 Salaries Payable 7,500 Unearned Revenue 13,500 Corsner, Capital 65,100 Corsner, Withdrawals 17,200 Service Revenue 48,100 Salaries Expense 29,500 8,800 Supplies Expense Depreciation ExpenseBuilding Depreciation ExpenseFurniture 2,400 600 12,000 Advertising Expense $ 192,700 $ 192,700 Total