The adjusted trial balance of Lighthouse Realty, Inc. at December 31, 2013, follows:

Requirements
1. Prepare Lighthouse Realty€™s 2013 income statement, statement of retained earnings, and year-end balance sheet. List expenses in decreasing order on the income statement.
2. a. Which financial statement reports Lighthouse Realty€™s results of operations?
Were operations successful during 2013? Cite specifics from the financial statements to support your evaluation,
b. Which statement reports the company€™s financial position?

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Lighthouse Realty, Inc Adjusted Trial Balance December 31, 2013 ACCOUNT Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Unearned Service Revenue Interest Payable Salary Payable Notes Payable Common Shares Retained Earnings Dividends Service Revenue Interest Revenue Salary Expense Rent Expense Depreciation Expense, Equipment Utilities Expense Interest Expense Supplies Expense Total DEBIT CREDIT $ 6,300 11,600 1,200 900 48,000 12,000 5,400 2,100 750 1,800 12,000 20,000 8,200 14,000 97,000 51,000 18,000 4,200 2,700 1.300 700 $159,900 $159,900