Vulcan Service Company experienced the following transactions for Year 1, its first year of operations:

Provided $91,000 of services on account.

Collected $72,000 cash from accounts receivable.

Paid $36,000 of salaries expense for the year.

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	$ 7,800	0.01
030	4,500	0.05
3160	2,000	0.10
6190	2,200	0.20
Over 90 days	2,500	0.50

Required:

Organize the transaction data in accounts under an accounting equation.

Prepare the income statement for Vulcan Service Company for Year 1.

What is the net realizable value of the accounts receivable at December 31, Year 1?