Tyler Service Co. experienced the following transactions for 2014, its first year of operations:

1.	Provided $86,000 of services on account.
2.	Collected $72,000 cash from accounts receivable.
3.	Paid $39,000 of salaries expense for the year.
4.	Tyler adjusted the accounts using the following information from an accounts receivable aging schedule:

Number of Days Past Due

Amount

Percent Likely to Be Uncollectible

Allowance Balance

Current

$

7,500

.01

0-30

2,000

.05

31-60

1,500

.10

61-90

1,000

.30

Over 90 days

2,000

.50

a.

Organize the information in accounts under an accounting equation

b.	Prepare the income statement for Tyler Service Co. for 2014.

c.	What is the net realizable value of the accounts receivable at December 31, 2014?