The following information relates to Martys Muffler Company for the year 2019:

Retained earnings, January 1, 2019: $59,000

Advertising expense: 1,800

Dividends paid during 2019: 9,000

Rent expense: 10,400

Service revenue: 52,000

Utilities expense: 2,400

Salaries and wages expense: 25,000

Required: After analyzing the above data, prepare in good form with proper headings and dates, the following two statements:

1.Income Statement

2.Retained Earnings Statement.