SHOW HOW T Calculator Financial statements Instructions Labels and Amount Descriptions Income Statement Instructions Accounts payable Accounts receivable Cash Common stock Fees eamed Land Miscellaneous expense Rent expense Supplies Supplies expense Utilities expense Wages expense $ 72,000 265,000 188,000 70,000 833,000 547,000 6,000 33,000 5,300 4,200 27,500 501,000 2 (Label) Required: 1. Prepare an income statement for the year ended December 31, 2018. Refer to the lists of Accounts, Labels, and Amount Descriptions provide for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss is incurred, enter that amount as a negative number using a minus sign. A colon (-) will automatically appear if it is required. 2. Prepare a retained earnings statement for the year ended December 31, 2018. Refer to the information given and the lists of Accounts, Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Ia net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. The word "Less" or "Add" is not needed in the Retained Earnings Statement. 3. Prepare a balance sheet as of December 31, 2018. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading 4. What item appears on both the retained earnings statement and the balance sheet? Label