(B) The following is the trial balance of the Nakheel Trading Corporation, with balances on 12/31/2021

Debit balances, credit balances, account name

7750 cash in hand

1800 receivables

1,000 supplies and equipment

950 furniture

4000 cars

2025 accounts payable

225 bank loan

Capital 11400 1/1/2021 (beginning of the period)

500 personal withdrawals

4,800 sales

1000 cost of goods sold

950 salary expense

1000 rental expense

500 profits from selling a car

18950 18950 total

Required:

1- Preparing the income statement for the financial period ending 12/31/2021.

2- Preparing the list of changes in property rights for the financial period ending on 31/12/2021.