Use the following accounts and information to prepare, in good form, an income statement, and balance sheet for Ali Enterprises for the year ended December 31, 2014:

Accounts payable QR.5,400 Ali, Withdrawals QR.1,500

Accounts Receivable 300 Insurance Expense 500

Buildings 26,000 Land 19,500

Cash 13,100 Rent Expense 1,800

Commissions Earned 9,500 Salaries Expense 4,200

Ali Capital, January 1, 2004 . 52,200 Supplies 200

( No investment has been made during the year)