Prepare Bisceglia's income statement, statement of retained earnings, and balance sheet for the year ending December 31, 20X5. The following information is all that is available. Be sure to prepare proper headings and dates on each financial statement.
Capital stock $41,000
Wage expense 37,000
Revenue 90,000
Cash 9,000
Utilities expense 6,000
Beginning retained earnings 11,000
Rent expense 10,000
Accounts payable 4,000
Equipment 80,000
Dividends 5,000
Accounts receivable 19,000
Notes payable 20,000