The accountant for Flagger Company prepared the following list of account balances from the companys records for the year ended December 31:

Fees earned	$165,000	Cash	$30,000
Accounts receivable	14,000	Selling expenses	44,000
Equipment	42,000	Common stock	36,000
Accounts payable	12,000	Interest income	3,000
Salaries & wages expense	40,000	Rent expense	51,000
Income taxes payable	5,000	Prepaid rent	2,000
Notes payable	20,000	Income taxes expense	18,000

Prepare an income statement, statement of retained earnings and balance sheet for Flagger Company.