Use the following information available as of December 31 to prepare an income statement for the year and a balance sheet for Goldie Company.

Fees for services performed during the year, $127,000

Accounts payable, $17,700

Accounts receivable, $18,000

Miscellaneous expenses for the year, $9,500

Supplies on hand, $3,100

Notes payable, $25,000

Interest expense on the note for the year, $3,000

Equipment, $91,300

Cash on hand, $12,100

Salaries expense for the year, $71,100

Supplies expense for the year, $9,000

Rent expense for the year, $11,800

Common stock that has been issued, $59,000

Retained earnings at the end of the year, $22,800

a. Income statement.

b. Classified balance sheet. (Be sure to list the assets and liabilities in order of their liquidity.)