BOILERMAKER UNLIMITED Income Statement For the year ended December 31, 2021 Service revenues: New Construction Remodel Total revenues Expenses: Salaries Supplies Depreciation Insurance Utilities Interest Service fee Total expenses Net income BOILERMAKER UNLIMITED Statement of Stockholders' Equity For the year ended December 31, 2021 Common Retained Total Stockholders' Stock Earnings Equity Balance at January 1 Issuance of common stock Add: Net income for 2021 Less: Dividends Balance at December 31 Assets BOILERMAKER UNLIMITED Balance Sheet December 31, 2021 Liabilities Current Assets Cash Accounts receivable Supplies Prepaid insurance Total current assets Long-term Assets Equipment Accumulated Depreciation Total assets Current Liabilities Accounts payable Salaries payable Utilities payable Total current liabilities Notes payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total stockholders' equity Total liabilities and stockholders' equity BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Accounts Debits Credits Cash Accounts Receivable Supplies $ 16,000 25,000 32,000 Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable 7,000 625,000 $ 200,000 31,000 28,000 Utilities Payable 5,000 Notes Payable (due in 5 years) 150,000 Common Stock 200,000 Retained Earnings 31,000 Dividends 26,000 Service Revenue-new construction 450,000 Service Revenue-remodeling 280,000 Salaries Expense 160,000 Supplies Expense 285,000 Depreciation Expense 50,000 Insurance Expense Utilities Expense Interest Expense Service Fee Expense Totals 25,000 42,000 9,000 73,000 $ 1,375,000 $ 1,375,000 Additional information: Common stock issued during year $ 30,000