8. The asset, liabilities, and equities of Davidson Design Studio have the following balances at December 31, 2018. The retained eamings was $35,000 at the beginning of the year. At year end, common stock was $12,000 and dividends were $52,000. (Click the icon to view the account balances.) Prepare the income statement for Davidson Design Studio for the year ending December 31, 2018 (2) (3) Net Income 8: Data Table S Notes Payable Rent Expense Cash Office Supplies Salaries Expense Property Tax Expense 9.200 20,000 3,400 4,100 68,000 1,700 Office Furniture Utilities Expense Accounts Payable Service Revenue Accounts Receivable Miscellaneous Expense 51,300 8,300 3,800 159,200 8,900 3,500 8: Data lable Print $ $ 51.300 6.300 Notes Payable Rent Expense Cash Office Supplies Salaries Expense Property Tax Expense 9.200 20,000 3.400 4,100 68,000 1,700 Office Furniture Utilities Expense Accounts Payable Service Revenue Accounts Receivable Miscellaneous Expense 3.800 159,200 8,900 3,500 Davidson Design Studio O Balance Sheet Income Statement O Statement of Retained Earnings December 31, 2018 Year Ended December 31, 2018 (2) O O Davidson Design Studio Balance Sheet Income Statement O Statement of Retained Earnings December 31, 2018 Year Ended December 31, 2018 (3) O Davidson Design Studio O Balance Sheet Income Statement Statement of Retained Earnings December 31, 2018 Year Ended December 31, 2018 O Total Expenses Total Liabilities and Stockholders' Equity (4) O Expenses: O Revenues: Total Assets (5) O Accounts Payable O Accounts Receivable O Cash O Common Stock O Office Furniture O Dividends Office Supplies O Miscellaneous Expense O Property Tax Expense O Notes Payable O Rent Expense Retained Earnings O Salaries Expense Service Revenue Utilities Expense 7) O O Total Expenses Total Liabilities and Stockholders' Equity (6) O O Expenses: O Revenues: Total Assets Accounts Payable Accounts Receivable Cash O Common Stock Dividends O Miscellaneous Expense Notes Payable O Office Furniture O Office Supplies O Property Tax Expense O Rent Expense O Retained Earnings Salaries Expense O Service Revenue O Utilities Expense (8) O Accounts Payable O Accounts Receivable O Cash O Common Stock O Office Furniture Retained Earnings Dividends Office Supplies Salaries Expense O Miscellaneous Expense O Property Tax Expense O Service Revenue O Notes Payable O Rent Expense O Utilities Expense (9) O O Common Stock Accounts Payable Dividends Accounts Receivable O Miscellaneous Expense O Cash O Notes Payable O Office Fumiture Office Supplies Property Tax Expense O Rent Expense O Retained Earnings O Salaries Expense Service Revenue Utilities Expense (10) O Accounts Payable Accounts Receivable Cash O Common Stock Dividends O Miscellaneous Expense Notes Payable O Office Furniture Office Supplies Property Tax Expense O Rent Expense O Retained Earnings O Salaries Expense O Service Revenue O Utilities Expense Total Expenses Tatal Liabilities and Stockholders' Equity (11) O Accounts Payable O Accounts Receivable O Cash O Common Stock Dividends O Miscellaneous Expense Notes Payable O Office Furniture Office Supplies O Property Tax Expense Rent Expense Retained Earnings O Salaries Expense Service Revenue Utilities Expense (12) O O Expenses: O Revenues: Total Assets