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E1-12 The following information relates to Linda Stanley Co. for the year 2008.

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E1-12 The following information relates to Linda Stanley Co. for the year 2008:

Retained earnings, Jan. 1 2008  48,000
Dividends during 2008  6,000
Service revenue  62,500
Salaries expense  30,000
Advertising expense  1,800
Rent expense  10,400
Utilities expense  3,100

Instructions:
After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2008.

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