The year-end financial statements are provided below Income Statement $87,500 Service revenue Expenses Salaries Supplies Rent Delivery $47,100 9,600 7,700 5,200 69,600 Net income S17,900 Statement of Stockholders' Equity Total Common Retained Stockholders January 1 Issue stock Net income Dividends StockEarningsEquity $70,000 34 500104 500 12,000 17,900 12,000 17 900 (5,000) (5,000) Ending balance, Dec 31 $82,000 47.400 $129,400 Balance Sheet Assets Liabilities s 7,500 Accounts payable Cash Accounts receivable Land S 9,800 8,300 Stockholders' Equity 123,400 Common stock $82,000 Retained earnings 47 400 129,400 Total assets S139 200Total liabilities and equities $139 200