Algonquin Inc. began operations on August 1, 2013. As per its second year, Algonquin Inc.’s accounting system showed the information below. During the second year, additional shares of $3000 were...

Algonquin Inc. began operations on August 1, 2013. As per its second year, Algonquin Inc.’s accounting system showed the information below. During the second year, additional shares of $3000 were issued. Complete the income statement, statement of changes in equity, and balance sheet.

Accounts receivable        $17,000

Accounts payable           $3,000

Advertising Expense       $ 5,000

Cash                               $ 9,000

Dividends                       $ 2,000

Insurance Expense         $ 7,000

Machinery                     $ 14,000

Note payable                $ 18,000

Retained Earnings         $ 6,000

Salaries Expense           $ 64,000

Service Revenue           $ 81,000

Share Capital                $ 10,000