The following are the account balances for Kappa Solutions at December 31, 2031:

• Service Revenue: $95,000
• Cost of Goods Sold: $50,000
• Salaries Expense: $20,000
• Rent Expense: $12,000
• Utilities Expense: $3,000
• Depreciation Expense: $5,000
• Accounts Receivable: $9,000
• Accounts Payable: $4,500
• Cash: $20,000
• Equipment: $40,000
• Notes Payable: $15,000
• Common Stock: $25,000

Required:

1. Prepare a Trial Balance as of December 31, 2031.
2. Prepare an Income Statement for the year ended December 31, 2031.
3. Prepare a Statement of Retained Earnings for the year ended December 31, 2031.
4. Prepare a Balance Sheet as of December 31, 2031.
5. Prepare a Statement of Cash Flows for the year ended December 31, 2031.