The financial balances for Gamma Traders Inc. as of December 31, 2026, are listed below:

• Sales Revenue: $180,000
• Cost of Goods Sold: $90,000
• Salaries Expense: $30,000
• Rent Expense: $10,000
• Utilities Expense: $4,000
• Depreciation Expense: $6,000
• Accounts Receivable: $12,000
• Accounts Payable: $6,000
• Cash: $15,000
• Equipment: $50,000
• Notes Payable: $20,000
• Common Stock: $25,000

Required:

1. Create a Trial Balance as of December 31, 2026.
2. Draft an Income Statement for the year ended December 31, 2026.
3. Prepare a Statement of Retained Earnings for the year ended December 31, 2026.
4. Draft a Balance Sheet as of December 31, 2026.
5. Prepare a Statement of Cash Flows for the year ended December 31, 2026.