The Assets and Liabilities of S&P Day Spa at December

Essay

The assets and liabilities of S&P Day Spa at December 31,2014 and expenses for the year are listed below.The retained earnings balance was $68,000 at January 1,2014.Net income for 2014 is $45,625.
$\begin{array}{|l|l|l|l|}\hline\text { Accounts Payable } & \$ 4,375 & \text { Spa Operating Expense } & \$ 23,760 \\\hline \text { Accounts Receivable } & \$ 8,490 & \text { Office Expense } & \$ 2,470 \\\hline \text { Cash } & \$ 13,980 & \text { SpaSupplies } & \$ 9,230 \\\hline \text { Fees Earned } & ? ? ? & \text { Wages Expense } & \$ 26,580 \\\hline \text { Spa Furniture \& Equipment } & \$ 56,000 & \text { Dividends } & \$ 38,170 \\\hline \text { Computers } & \$ 2,130 & \text { Capita1 Stock } & \$ 10,000 \\\hline \end{array}$
Prepare an income statement for the current year ended December 31,2014.