Various balance sheet and statement of earings accounts for Home Restoration Outlet Ltd. are listed below in random order. The balance sheet accounts are as at December 31, 2005, except as noted. The statement of eamings amounts are for the year January 1 to December 31, 2005. All accounts are show in thousands of dollars. Prepare a statement of earnings, statement of retained earnings, and a balance sheet Cash $40 Retained earnings, Dec 31, 2004 5255 Inventory, Dec 31, 2004 $425 Note payable, due Feb 2006 1525 Selling expenses 5482 Accounts payable 585 Accounts receivable 5104 Sales 52,409 Income tax rate 50% Building and equipment, cost 5150 Dividends 570 Total Long term loan, due June 2015 5110 - 2006 portion 510 ($10 of the 5110) Purchases 51300 525 Income tax payable Marketable securities 530 Depreciation expense, building and equipment 523 General and administrative expenses $225 Cost of goods sold 51.419 Goodwill 585 Other expenses, interest 520 Prepaid expenses $42 Common stock $130 Accumulated depreciation, build & equip. Dec 31, 2004 $s3