The amounts of assets and liabilities of Loose Caboose Cigar Lounge at December 31, 2019, the end of the year, and its revenue and expenses for the year follow. The retained earnings were S 250,000 on January 1, 2019, the beginning of the year. During the year dividends of $ 5,000 were paid. Accounts payable Cash Common stock Sales Inventory Rent expense Utilities expense Wages expense Cost of Sales Fixtures & Equipment 14,000 19,000 50,000 350,000 78,000 22,500 16,700 100,000 85,000 337,800 Required: 1 Prepare an income statement for the year ended December 31, 2019 2 Prepare a retained earnings statement for the year ended December 31, 2019 3 Prepare a balancde sheet as of December 31, 2019 4 What item appears on both the retained earnings statement and the balance sheet