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0 Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end Is December 31. The unadjusted trial

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0 Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end Is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Account Title Debits Credits Cash 33,200 Accounts receivable 41,400 Supplies 2,200 Inventory 61,480 Notes receivable 21,400 Interest receivable Prepaid rent 1,600 Prepaid Insurance 7.400 Office equipment 85,600 Accumulated depreciation 32,100 Accounts payable 32,480 Salaries payable 8 Notes payable 51,400 Interest payable Deferred sales revenue 2,700 Common stock 69,800 Retained earnings 32,000 Dividends 5,480 Sales revenue 153,000 Interest revenue Cost of goods sold 77,000 Salaries expense 19. GOD Rent expertse 11,700 Depreciation expense Interest expense Supplies expense 1.se Insurance expense Advertising expense 3.700 Totals 373,400 373,40 8 e Information necessary to prepare the year-end adjusting entries appears below. Information necessary to prepare the year-end adjusting entries appears below 1 Depreciation on the office equipment for the year is $10.700 2 Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries eamed from the 16th through the end of the month Salariet earned from December 16 through December 31, 2021, were $t100 3. on October 1, 2021. Pastina borrowed $51.400 from a local bank and signed a note The note requires Interest to be paid annually on September 30 at 12%. The principal is due in 10 years 4. On March 1, 2021, the company lent a supplier S21400 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022 6. On April 1, 2021. the company paid an insurance company 57,400 for a one-year fire insurance policy. The entire 57400 6. $680 of supplies remained on hand at December 31, 2021 7 A customer paid Postina 52.700 in December for 100 pounds of spaghem to be devered in January 2022. Pastina. credited deferred sales revenue & On December 1, 2021 S1.600 rent was paid to the owner of the busing. The payment represented rent for December 2021 and January 2022 at $800 per month. The endre amourt was debited to breed rent 4. Prepare an Income statement and a statement of shareholders equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that 55,400 in cash dividends were paid to shareholders during the year. Income Statement Statement of SE Balance Sheet Prepare the income statement for the year ended December 31, 2021. Other expenses should be indicated with a minus sign.) PASTINA COMPANY Income Statement For the Year Ended December 31, 2021 0 0 0 0 0 $ Statement of SE > 4. Prepare an Income statement and a statement of shareholders' equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $5.400 in cash dividends were paid to shareholders during the year. Complete this question by entering your answers in the tabs below. Income Statement Statement of Balance Sheet SE Prepare the statement of shareholders' equity for the year ended December 31, 2021. PASTINA COMPANY Statement of Shareholders' Equity For the Year Ended December 31, 2021 Common Retained Total Stock Earnings Shareholders Equity Balance at January 1.2021 Balance at December 31, 2021 Income Statement Balance Sheet> Income Sa State of SE Dance Sheet Prepare the desired balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minusson Assats x Labtec and Shareholders Equity

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