The following events apply to Montgomery Company for 2016, its first year of operation:

Received cash of $36,000 from the issue of common stock.

Performed $48,000 of services on account.

Incurred $6,500 of other operating expenses on account.

Paid $21,000 cash for salaries expense.

Collected $34,500 of accounts receivable.

Paid a $3,000 dividend to the stockholders.

Performed $9,500 of services for cash.

Paid $5,500 of the accounts payable.

Prepare the three financial statements given the above information.