The asset, liabilities, and equities of Davidson Davidson Design Studio have the following balances at December 31,2018.

The retained earnings was $40,000 at the beginning of the year. At year end, common stock was $17,000

and dividends were $61,000.

Prepare the income statement for Davidson Design Studio for the year ending December 31, 2018.

$ $ 9,200 21.000 3,000 Notes Payable Rent Expense Cash Office Supplies Salaries Expense Property Tax Expense Office Furniture Utilities Expense Accounts Payable Service Revenue Accounts Receivable Miscellaneous Expense 74,400 6,200 2,800 189,700 12,100 4,200 4,900 70,000 1,900