Prepare an Income Statement and a Retained Earnings Statement, for the Month

Prepare an income statement and a retained earnings statement, for the month of October, 2014 and a balance sheet at October 31, 2014 for the medical practice of Linda Denny, MD, from the items listed below. $$\begin{array} { l r } \text { Retained earnings (October 1) } & \$ 15,000 \\\text { Common stock } & 30,000 \\\text { Accounts payable } & 6,000 \\\text { Equipment } & 29,000 \\\text { Service revenue } & 23,000 \\\text { Dividends } & 6,000 \\\text { Insurance expense } & 3,500 \\\text { Cash } & 11,000 \\\text { Utilities expense } & 700 \\\text { Supplies } & 2,800 \\\text { Salaries and wages expense } & 9,000 \\\text { Accounts receivable } & 10,000 \\\text { Rent expense } & 2,000\end{array}$$