The amounts of the assets and liabilities of Viva Travel Service as of September 30, 20Y6, the end of the current year, and its revenue and expenses for the year are listed below. The retained earnings were $135,000 and the common stock was $45,000 as of October 1, 20Y5, the beginning of the current year. Dividends of $9,000 were paid during the year.

Accounts payable ................................................... $157,500

Accounts receivable ................................................  288,900

Cash ..........................................................................  149,400

Common stock ........................................................    63,000

Fees earned .............................................................  810,000

Miscellaneous expense ..........................................    33,300

Rent expense ...........................................................  162,000

Supplies ....................................................................    11,700

Supplies expense ....................................................    34,200

Taxes expense .........................................................    27,000

Utilities expense ......................................................    67,500

Wages expense ........................................................  382,500

Instructions

1. Prepare an income statement for the current year ended September 30, 20Y6.

2. Prepare a statement of stockholders’ equity for the current year ended September 30, 20Y6.

3. Prepare a balance sheet as of September 30, 20Y6.