The adjusted trial balance for Tropical Sunshine Inc. is provided below as of December 31, 2023 Tropical Sunshine Inc. Adjusted Trial Balance December 31, 2023 Debit Credit Cash $62,500 Accounts receivable 40,200 Supplies 550 Prepaid insurance 820 Equipment 36,000 Accumulated depreciation-equipment $8,800 Accounts payable 6,500 Unearned service revenue 15,700 Salary payable 42,650 Common shares 23,295 Retained earnings 10,000 Dividends 8,000 Service revenue 82,200 Salary expense 32,850 Supplies expense 3,200 Insurance expense 800 Depreciation expense-equipment 925 Utilities expense 3,300 ________ $189,145 $189,145 Required 1. Prepare the income statement and statement of retained earnings for the year ended December 31, 2023