The following items are taken from the financial statements of Starr Corporation for 2021:

Accounts Payable $78,000

Accounts Receivable 146,000

Bonds Payable 50,000

Cash 84,000

Common Stock 25,000

Advertising Expense 10,000

Dividends 3,000

Rent Expense 8,000

Supplies Expense 4,000

Retained Earnings, January 1 10,000

Salaries Expense 20,000

Consulting Revenue 118,000

Supplies on Hand 6,000

Instructions: Prepare each of the following financial statements.

1. an income statement.

2. retained earnings statement.

3. a classified balance sheet