7. Perform services on account 8. Pay rent with cash 9. Owner withdraws cash 10. Collect receivable from (7) P2.2C. The accounting records of Nikola's Delivery Service show the following as and liabilities as of the end of 2021 and 2022: Cash Accou: Prepai Offic Acco Loa H. H. SA R Proposince sheet 020 Account Name Cash $ P2-50 2021 28,000 50,000 20,000 120,000 61,000 Chuck Figure Accounts Receivable Office Supplies Computer Equipment Delivery Equipment Land Accounts Payable 2022 Total Assets 556.000 2022 $ 20,000 60,000 25,000 120,000 61,000 650,000 30,000 520,000 10,000 Loan Payable The owner bought land for his equipment for $650,000. The business paid $130,000 cash and has a bank loan for the balance. Mr. Nikola Nowak had to invest an additional $50,000 to help pay the $130,000. The company earned a net income during 2022, which allowed Mr. Nowak to withdraw $24,000 for the year How much net income was earned in 2022? Show your calculations. Prepare balance sheets for the business as of December 31, 2021 and 2022. eparing a trial balance from the P2.30. From 1 (Hint: Assets increased from $279,000 to $936,000 from 2021 to 2022.) accounts 20 minl from the business for personal use. o record and foot