The financial balances for Epsilon Services Co. as of December 31, 2028, are as follows:

• Service Revenue: $100,000
• Wages Expense: $40,000
• Rent Expense: $12,000
• Utilities Expense: $5,000
• Insurance Expense: $2,000
• Equipment: $35,000
• Accounts Payable: $5,000
• Accounts Receivable: $8,000
• Cash: $18,000
• Notes Payable: $10,000
• Common Stock: $15,000

Required:

1. Create a Trial Balance as of December 31, 2028.
2. Draft an Income Statement for the year ended December 31, 2028.
3. Prepare a Statement of Retained Earnings for the year ended December 31, 2028.
4. Draft a Balance Sheet as of December 31, 2028.