The amounts of the assets and liabilities of Journey Travel Agency at December 31, 2018, the end of the year, and its revenue and expenses for the year follow. The retained earnings were $1,341,000 on January 1, 2018, the beginning of the year. During the year, dividends of $75,000 were paid.

Instructions
1. Prepare an income statement for the year ended December 31, 2018.
2. Prepare a retained earnings statement for the year ended December 31, 2018.

3. Prepare a balance sheet as of December 31, 2018.
4. What item appears on both the retained earnings statement and the balance sheet?

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Accounts rivabe Cash Common stock Fees earned Land Miscellaneous expense 14,500 22,500 7,000 11,300 16,700 170,000 236,500 ent expense 90,500Supplies 450,000 Supplies expense 383,500 Utilities expense Wages expense 1500000