CONSULTEX, INCORPORATED Balance Sheet October 31 Assets Cash Accounts Receivable Prepaid Rent Land Total Assets Liabilities and Stockholders' Equity Salaries and Wages Payable Income Taxes Payable Notes Payable (long-term) Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Sales Revenue CONSULTEX, INCORPORATED Income Statement For the Year Ended October 31 2021 $ 10,810 13,000 1,750 23,500 $ 49,060 2020 $ 13,000 11,500 2,500 10,000 $ 37,000 $ 2,500 1,000 11,500 8,500 13,500 $ 1,750 1,000 13,000 19,000 14,310 $ 49,060 $ 37,000 2021 $ 155,500 2020 $ 158,500 Salaries and Wages Expense Rent Expense Utilities Expenses Income before Income Tax Expense Income Tax Expense Net Income 97,500 96,500 35,500 29,500 19,200 19,500 3,300 13,000 990 3,900 $ 2,310 $ 9,100