1. Prepare a statement of stockholders' equity for 2021.

2. Prepare a balance sheet for 2021. Not every line will be used.

Required information In this problem, you will go through the accounting cycle for Boomer Co. for 2021 and 2022. [The following information applies to the questions displayed below.) Boomer Co. reported the following events in 2021, the first year of operations: 1. Issued common stock for $54,000. 2. Paid $13,900 for 1-year of rent from April 1, 2021, to March 31, 2022. 3. Provided services to customers on account for $110,000. 4. Incurred operating expenses on account of $44,500. 5. Received $84,000 cash from customers on account 6. Paid $40,000 to employees for 2021 salaries, 7. Paid $35,600 on account Adjusting Entries 8. Recorded adjusting entry for rent used in 2021 (from 2 above.) 9. Recorded adjusting entry for $6,200 of accrued salaries owed at the end of 2021. Events for 2022 1. Paid $6,200 for the salaries accrued at the end of 2021. 2. Provided services for cash of $59,000. 3. Purchased $4,700 of supplies on account. 4. Paid $16,200 for 1-year of rent April 1, 2022 to March 31, 2023. 5. Provided services to customers on account for $126,000. 6. Incurred operating expenses on account of $60,500. 7. Received $108,000 from customers on account. 8. Paid $58,000 on account. 9. Paid $33,400 to employees for 2022 salaries. 10. Paid $10,000 in dividends to stockholders, Adjusting Entries 11. Recorded adjusting entry for rent used in 2022. (Hint Part of the rent was paid in 2021; rent per month is not the same in each month in 2022.) 12. Recorded adjusting entry for supplies. At the end of the vear. $400 of supplies were still on hand. BOOMER COMPANY Statement of Stockholders' Equity For the Year Ended December 31, 2021 Beginning common stock Plus: Stock issued Ending common stock $ 0 Beginning retained earnings Plus: Net income Ending retained earnings Total stockholders' equity 0 $ o BOOMER COMPANY Balance Sheet As of December 31, 2021 Assets $ 0 Total assets Liabilities Total liabilities $ 0 Stockholders' equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0