The year-end financial statements of Rattlers Tax Services are provided below RATTLERS TAX SERVICES Income Statement Service revenue $72,000 Expenses: Salaries Utilities $44,900 7,100 4,700 1,550 58,250 Insurance Supplies Net income $13,750 RATTLERS TAX SERVICES Statement of Stockholders' Equity Total Common Stock $49,000 19,000 Retained Earnings Stockholders' Equity $23,400 Beginning balance, Jan. Issue stock Net income Dividends $ 72,400 19,000 13,750 (4,900) 13,750 (4,900) Ending balance, Dec. 31 $68,000 $32,250 $100,250 RATTLERS TAX SERVICES Balance Sheet Assets Liabilities $ 3,600 Accounts payable $4,450 Cash Accounts receivable Land 6,100 Stockholders' Equity: 95,000 Common stock $68,000 Retained earnings 32,250 100,250 Total assets $104,700 Total liabilities and equities $104,700