3 Accounts Receivable Sales Revenue Cost of Goods Sold 4 Cash Accounts Receivable Inventory 5 Accounts Payable 6 Cash Cash Service Revenue Accounts Receivable 7 Advertising Expense 8 Interest Expense Bank Loan Payable 9 Cash 10 Utilities Expense 36,000 36,000 20,000 20,000 26000 78,000 104,000 26,000 26,000 49,200 49,200 2,400 Cash 2,400 2100 6,000 Cash 8100 600 Dividend Revenue 600 3,000 Cash 3,000 11 Dividends Declared 2,400 11 Dividends Declared 2,400 Cash 2,400 In addition, other transactions occurred at end 2021 and have not been recorded in the books): 12a. Paid $20,400 for wages during the year. 12b. The company owed another $400 to the employees for the last week of work in December At year-end. 13. Depreciated the equipment for the year. The company had bought its equipment at the beginning of 2018 , and it was expected to last 10 years and have a residual value of $6,000. 14. Made an adjustment for the annual cost of the insurance that expired in 2021 (for your information: David paid $780 for a three-year fire insurance policy beginning January and the transaction has been correctly recorded). REQUIRED: 1) Prepare a statement of financial position for 2021 (20 marks). 2) Calculate the balance of these accounts: (7 marks). \begin{tabular}{|l|l|} \hline Cost of goods sold = & \\ \hline Advertising expense = & \\ \hline Utilities expense = & \\ \hline Wages expense = & \\ \hline Insurance expense = & \\ \hline Interest expense = & \\ \hline Depreciation expense = & \\ \hline Total expenses = & \\ \hline Net income = & \\ \hline \end{tabular} David Glaudan organized a new company, CapUniverse Inc. The company operates a store in an area mall and specializes in baseball-type caps with logos printed on them and provides also T-shirt customization service. David, who is never without a cap, believes that his target market is college students and minor league baseball teams. You have been hired to record the transactions occurring in 2021 and prepare financial statements. The company had the following account balances at December 31,2020: opening balance During 2021, David prepared the following journal entries