Smith Corporation began operations on January 1, 2017. The following information is available for Gray Corporation on December 31, 2017.

Accounts payable

$5,000

Notes payable

$7,000

Accounts receivable

2,000

Rent expense

10,000

Advertising expense

4,000

Retained earnings

?

Cash

3,100

Service revenue

25,000

Common stock

15,000

Supplies

1,900

Dividends

2,500

Supplies expense

1,700

Equipment

26,800

Prepare an income statement, a retained earnings statement, and a balance sheet for Gray Corporation.