These items are taken from the financial statements of Waterway Industries for 2017, Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $35,340 2,140 70,340 20,230 14,290 7,920 12,000 12,000 70,650 8,420 1,660 3,120 13,630 2,680 39,650 21,790 Prepare an income statement for the year ended December 31, 2017. Waterway Industries Income Statement Prepare a retained earnings statement for the year ended December 31, 2017. (List items that increase retained earnings first.) Waterway Industries Retained Earnings Statement For the Year Ended December 31, 2017 - Retained Earnings, December 31, 2017 : eTextbook and Media List of Accounts Prepare a classified balance sheet as of December 31, 2017. (List current assets in order of liquidity.) Waterway Industries Balance Sheet