Springdale Retail, Inc., is a retailer that has engaged you to assist in the preparation of its financial statements at December 31, 2015. Following are the correct adjusted account balances, in alphabetical order, as of that date. Each balance is the normal balance for that account. (Hint: The normal balance is the same as the debit or credit side that increases the account.)

Accounts payable	$	13,100
Accounts receivable		2,900
Accumulated depreciation: office equipment		12,900
Additional paid-in capital (common stock)		7,300
Bonds payable (due December 31, 2018)		22,700
Cash		14,500
Common stock (2,700 shares, $10 par value)		27,000
Cost of goods sold		108,365
Deferred income taxes		6,150
Depreciation expense: office equipment		2,250
Dividends declared		4,500
Income tax expense		8,140
Insurance expense		830
Land		39,800
Merchandise inventory		20,400
Notes payable (due December 31, 2016)		3,400
Office equipment		42,900
Office supplies		840
Office supplies expense		450
Preferred stock (280 shares, $20 par value)		5,600
Premium on bonds payable		1,900
Prepaid rent		1,680
Rent expense		5,200
Retained earnings (January 2015)		21,450
Salaries expense		87,945
Sales		226,600
Sales returns and allowances		2,300
Sales taxes payable		3,500
Treasury stock (400 common shares at cost)		4,500
Utilities expense		4,100

a. Prepare an income statement for the year ended December 31, 2015.

b. Prepare a statement of retained earnings for the year ending December 31, 2015.

c. Prepare a statement of financial position as of December 31, 2015. (Amounts to be deducted should be indicated by minus sign.)