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Tar Heel Corporation provides the following information at the end of 2021 Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purchased Supplies at the end of the year Retained earnings Utility expense for the year Note payable to the bank Service revenue recognized during the year Salary expense for the year Accounts payable to suppliers Dividends paid to shareholders during the year Common stock that has been issued, including $6,880 that was issued this year Cash remaining Interest expense for the year Accounts receivable from customers Retained earnings at the beginning of the sean $ 1,700 8,888 64,888 3,000 38,469 4,400 17,880 61,400 25,192 6,108 (2) 7 000 2,600 1,328 11,600 18.00C Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Prepare the income statement for the year ended December 31, 2021. TAR HEEL CORPORATION Income Statement For the year ended December 31, 2021 Service Revenue $ 61,400 Expenses: Advertising Expense Utilities Expense Salaries Expense Interest Expense $ 8.880 $ 4.400 25, 100 1.300 Total Expenses Net Income 39.680 $ 21,720 Required 2 > cember 1, ZUZI MIX YOU 3. Prepare the balance sheet for the year ended December 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the statement of stockholders equity for the year ended December 31, 2021. TAR HEEL CORPORATION Statement of Stockholders Equity For the year ended December 31, 2021 Common Total Retained Stock Earnings Stockholders Equity Beginning Balance IS 21,000 18.000 39,000 Issuance of Common Stock 6,000 6.000 Add: Net Income u 21.720 21,720 X 9.3208 9,320 Ending Balance $ 27.000 30.400 IS 57.400 GA Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the balance sheet for the year ended December 31, 2021. TAR HEEL CORPORATION Balance Sheet December 31, 2021 Liabilities Assets is SIS Cash Accounts Receivable Supplies 3,600 Accounts Payable 11.600 Salaries Payable 3,000 Note Payable 6.100 1,700 17,000 Six 24.800 Total Liabilities Stockholders' Equity Common Stock Retained Earnings 27 000 30,400 + Total Stockholders Equity Total Liabilities and Stockholders' Equity 57.400 82.200 5 IS 18 200 Total Assets ( Requel 2