The assets and liabilities of Global Travel Agency on December 31, 20Y5, and its revenue and expenses for the year are as follows:

Accounts payable	$108,000	Miscellaneous expense	$19,500
Accounts receivable	539,000	Rent expense	56,000
Cash	200,000	Supplies	6,000
Common stock	575,000	Supplies expense	12,700
Fees earned	940,000	Utilities expense	34,800
Land	1,500,000	Wages expense	415,000

Common stock was $525,000 and retained earnings was $1,250,000 as of January 1, 20Y5. During the year, additional common stock of $50,000 was issued for cash, and dividends of $90,000 were paid.

	Required:
1.	Prepare an income statement for the year ended December 31, 20Y5. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If there is a net loss, enter that amount as a negative number using a minus sign. You will not need to enter colons (:) on the income statement.
2.	Prepare a statement of stockholders equity for the year ended December 31, 20Y5. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank.
3.	Prepare a balance sheet as of December 31, 20Y5. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading.
4.	What items appears on both the statement of stockholders equity and the balance sheet?