Below is the adjusted trial balance of Simranjit Kaur Cubic Storage at December 31, 2021:

Reuben's Cubic Storage

Adjusted Trial Balance

December 21, 2021

Cash

Accounts Receivable

Prepaid Insurance

Office Supplies

Office Equipment

Accumulated Depreciation - Office Equipment

Buildings

Accumulated Depreciation - Buildings

Land

Wages Payable

Property Taxes Payable

Interest Payable

Unearned Rent

Long-term Notes Payable

Simranjit Kaur, Capital

Simranjit Kaur, Withdrawals

Rent Earned

Wages Expense

Utilities Expense

Property Taxes Expense

Insurance xoense

Office Supplies Expense

Depreciation Expense - Office Equipment

Depreciation Expense - Building

Interest Expense

DEBIT

3.050

400

830

80

4,200

98.000

115,000

CREDIT

1.100

28.000

880

1.400

2,200

460

178,000

30,520

48.600

21.000

28.880

1.000

2,400

800

250

400

5.570

8,400

$291,160

$291,160

Use the Adjusted Trial Balance to answer the following questions.

Prepare an income statement for the year ended December 31, 2021.

(8 Marks)

Prepare a statement of changes in equity for the year ended December 31, 2021. Reuben's capital

account balance of $30,520 consists of a $20,520 balance on January 1, 2021, plus an additional

$10,000 investment during 2021.

Prepare a balance sheet at December 31, 2021.