Requirements:
1. Prepare Gate City Answering Service's Income Statement.
2. Prepare the statement of retained earnings.
3. Prepare the balance sheet. Land $9,000, Notes Payable $30,000, Property Tax Expense 3,200, Dividends 27,000, Rent Expense 17,000, Salaries Expense 61,000, Salaries Payable 1,800, Service Revenue 240,000, Office Supplies 16,000, Retained Earnings, 12/31/13 55,000, Common Stock 31,000, Accounts Payable 15,000, Accounts Recievable 1,700, Advertising Expense 18,000, Buildings 190,000, Cash 3,600, Equipment 17,000, Income Expense 1,800, Interest Expense 7,500