Statement 1

Income Statement

For the year ended Dec 31, 20XX
Sales revenue $50,000
− Cost of goods sold(20,000)
− Salaries expense (8,000)
− Rent expense(4,000)
= Net income $18,000
Statement 2

Statement of Retained Earnings

For the year ended Dec 31, 20XX
Beginning retained earnings$12,000
+ Net income18,000
− Dividends(5,000)
= Ending retained earnings$25,000
Statement 3

Balance Sheet

As of Dec 31, 20XX
Assets
Cash$13,000
Accounts receivable50,000
Inventory12,000
Current assets$75,000
Equipment30,000
Total assets$105,000
Liabilities
Accounts payable$40,000
Salaries payable8,000
Current liabilities$48,000
Notes payable12,000
Total liabilities$60,000
Stockholders' Equity
Common stock$20,000
Retained earnings25,000
Total shareholders' equity$45,000
Total liab. & equity$105,000