1) From the following information prepare a Balance Sheet and Profit and Loss Statement for the Eastern Company as of December 31, 2021. Consideration should be given to format. Loan Payable to Bank - Short Term Cash Rent Expense Wages Payable Inventory Accounts Payable to suppliers Utility Expense Sales to Customers (revenue) Accounts Receivable from customers Wages Expense Cost of product sold Equipment & Property Common Stock Dividends Advertising Expense Retained Earnings - you must calculate $ A SA A $ 179,000 161,000 65,000 12,000 33,000 38,000 10,000 372,000 60,000 50,000 170,000 100,000 75,000 7,000 20,000