Part 3: Below are the accounts for Green Inc. The company has just completed its second year of operations ended December 31, 2013.
Cash
$19,000
Notes Payable
16,000
Service Fees Revenue
72,900
Supplies Expense
7,900
Insurance Expense
3,000
Contributed Capital
17,000
Building
24,500
Rent Expense
8,500
Salaries Expense
32,400
Supplies (on hand)
7,100
Advertising Expense
4,000
Retained Earnings, 1/1/13
6,200
Salaries Payable
7,300
Accounts Receivable
9,000
Dividends (declared and paid during 2013)
4,000
Prepare the (1) Income Statement and the (2) Balance Sheet for Green Inc. for the year-ended 12/31/13. Use proper headings when making these statements.