The trial balance of XYZ Company as of December 31, 20X4, is as follows:

Account	Debit ($)	Credit ($)
Cash	20,000	-
Accounts Receivable	15,000	-
Inventory	25,000	-
Prepaid Rent	5,000	-
Equipment	50,000	-
Accounts Payable	-	10,000
Notes Payable	-	30,000
Common Stock	-	40,000
Retained Earnings	-	25,000
Sales Revenue	-	80,000
Cost of Goods Sold	35,000	-
Operating Expenses	20,000	-

Prepare an income statement, statement of retained earnings, and balance sheet for XYZ Company.