Blossom's Home Renovations was started in 2008 by Jim Blossom. Jim operates the business from an office in his home. Listed below, in alphabetical order, are the company's assets and liabilities as at December 31, 2021, and the revenues, expenses, and drawings for the year ended December 31, 2021: Accounts payable $7,350 Operating expenses Accounts receivable 9,080 Prepaid insurance Cash 7.250 Salaries expense Equipment 28,400 Service revenue Insurance expense 2.375 Supplies Interest expense 1.000 Supplies expense J. Blossom, drawings 43,800 Unearned revenue Notes payable 29,800 Vehicles $3,045 1,000 86.230 153,750 400 19.095 14,000 41.000 Jim's capital at the beginning of 2021 was $37.775. He made no investments during the year. Prepare the income statement. BLOSSOM'S HOME RENOVATIONS Income Statement Year Ended December 31, 2021 153750 2375 1000 19095 86230 3045 e Textbook and Media BLOSSOM'S HOME RENOVATIONS Statement of Owner's Equity Year Ended December 31, 2021 e Textbook and Media Prepare the balance sheet BLOSSOM'S HOME RENOVATIONS Balance Sheet December 31, 2021 Vehicles Accounts Receivable Supplies Prepaid Insurance Equipment Vehicles Total Assets Liabilities and Owner's Equity Liabilities Accounts Payable s Notes Payable