The Records of Roadmaster Auto Rentals Show the Following Information

The records of Roadmaster Auto Rentals show the following information as of December 31.The sole stockholder,Rob Fletcher received dividends of $52,000 during the year.Prepare a December income statement,a December statement of retained earnings,and a December 31 balance sheet.
$$\begin{array} { l lll } \text { Accounts payable } & \$ 36,000 & \text { Wages expense } & \$ 75,000 \\\text { Insurance expense } & 2,000 & \text { Advertising expense } & 22,000 \\\text { Accounts receivable } & 24,000 & \text { Cash } & 11,000 \\\text { Common stock } & 60,000& \text { Office Furniture } & 15,000 \\\text { Airplanes } & 150,000& \text { Maintenance expense } & 39,000 \\\text { Notes payable } & 47,000 & \text { Revenues } & 217,000 \\\text { Hangar } & 60,000& \text { Retained earnings, January 1 } & 90,000\end{array}$$