X 2. Does it 3. Identify the personal items given balance sheet of the business. for the year ended P1-54A. (Learning Objectives 4, 5: Construct and analyze an income statement, a statement of retained earnings, and a balance sheet; evaluate business operations) The assets and liabilities of Cameron Services, Inc., as of December 31, 2014, and revenues and expenses on that date follow: $ 26,200 $112,000 Equipment Interest expense 10,800 Land............ Note payable...... 99,300 7,700 Interest payable.. 3,100 Property tax expense. 41,600 Accounts payable. 28,900 Rent expense............. Salary expense... 108,700 Accounts receivable..... 84,800 Building 401,000 Service revenue....... 457,600 Cash......... 46,800 Common stock. 5,500 Supplies... Utilities expense 6,100 8,500 Beginning retained earnings was $364,800, and dividends declared totaled $105,000 for the Requirements 1. Prepare the income statement of Cameron Services, Inc., for the 2014. year. year ended December 31, 2. Prepare the company's statement of retained earnings for the year. 3. Prepare the company's balance sheet at December 31, 2014. 4. Analyze Cameron Services, Inc., by answering these questions: a. Was Cameron Services profitable during 2014? By how much? b. Did retained earnings increase or decrease? By how much? c. Which is greater, total liabilities or total stockholders' equity? Who owns more of Cameron Services' assets, creditors of the company or the Cameron Services' stockholders? P1-55A. (Learning Objectives 4, 5: Construct a statement of