create income statement, balance sheet, and cash flows for 2021

B 3 For the Years Ended December 31, 2020 and December 31, 2021 4 2020 2021 5 Debit Credit Debit Credit 6 Cash 173,000 531,849 7 Accounts Receivable 26,415 135,000 8 Inventory 32,160 32,000 9 Prepaid Expenses 25,168 10 Building 275,000 275,000 11 Computers & Software 10,000 10,000 + 12. Furniture & Fixtures 25,000 25,000 13 Land 75,000 75,000 14 Machinery & Equipment 22,725 15 Accumulated Depreciation 8,775 46,560 16 Accounts Payable 12,311 19,861 17 Payroll Tax Payable 136 1,042 18 Sales Tax Payable 22,135 8,775 19 Unearned Revenue 52,500 20 Line of Credit 250,000 250,000 21 Notes Payable 99,275 22 Peters, J., Capital 2,500 2,500 B For the Years Ended December 31, 2020 and December 31, 2021 4 2020 2021 5 Debit Credit Debit 21 Notes Payable 22 Peters, J., Capital 2,500 23 Peters, M., Capital 2,500 24 Retained Earnings 201,301 25 Custom Cabinet Sales 26 Material & Supplies Sales 288,368 27 Small Tool Sales 35,972 28 Tool Rental Revenue 16,201 29 COGS: Custom Cabinets 148,070 30 COGS: Material & Supplies 92,278 96,892 31 COGS: Small Tools 21,735 22,604 32 COGS: Wages 33,721 270,871 33 Depreciation Expense 8,950 37,785 34 Insurance Expense 6,426 31,594 35 Office Supplies Expense 1,464 1,596 36 Payroll Tax Expense 6,069 54,174 37 Postage Expense 347 378 Credit 99,275 2,500 2,500 425,015 595,000 302,786 37,411 45,760 A B D 3 For the Years Ended December 31, 2020 and December 31, 2021 4 2020 2021 5 Debit Credit Debit Credit 27 Small Tool Sales 35,972 37,411 28 Tool Rental Revenue 16,201 45,760 29 COGS: Custom Cabinets 148,070 30 COGS: Material & Supplies 92,278 96,892 31 COGS: Small Tools 21,735 22,604 32 COGS: Wages 33,721 270,871 33 Depreciation Expense 8,950 37,785 34 Insurance Expense 6,426 31,594 35 Office Supplies Expense 1,464 1,596 36 Payroll Tax Expense 6,069 54,174 37 Postage Expense 347 378 38 Small Tool Expense 6,162 7,300 39 Interest Expense 7,500 11,408 40 Income Tax Expense 38,972 74,571 41 840,199 840,199 $ 1,888,985 $ 1,888,985 42 B 3 For the Years Ended December 31, 2020 and December 31, 2021 4 2020 2021 5 Debit Credit Debit Credit 6 Cash 173,000 531,849 7 Accounts Receivable 26,415 135,000 8 Inventory 32,160 32,000 9 Prepaid Expenses 25,168 10 Building 275,000 275,000 11 Computers & Software 10,000 10,000 + 12. Furniture & Fixtures 25,000 25,000 13 Land 75,000 75,000 14 Machinery & Equipment 22,725 15 Accumulated Depreciation 8,775 46,560 16 Accounts Payable 12,311 19,861 17 Payroll Tax Payable 136 1,042 18 Sales Tax Payable 22,135 8,775 19 Unearned Revenue 52,500 20 Line of Credit 250,000 250,000 21 Notes Payable 99,275 22 Peters, J., Capital 2,500 2,500 B For the Years Ended December 31, 2020 and December 31, 2021 4 2020 2021 5 Debit Credit Debit 21 Notes Payable 22 Peters, J., Capital 2,500 23 Peters, M., Capital 2,500 24 Retained Earnings 201,301 25 Custom Cabinet Sales 26 Material & Supplies Sales 288,368 27 Small Tool Sales 35,972 28 Tool Rental Revenue 16,201 29 COGS: Custom Cabinets 148,070 30 COGS: Material & Supplies 92,278 96,892 31 COGS: Small Tools 21,735 22,604 32 COGS: Wages 33,721 270,871 33 Depreciation Expense 8,950 37,785 34 Insurance Expense 6,426 31,594 35 Office Supplies Expense 1,464 1,596 36 Payroll Tax Expense 6,069 54,174 37 Postage Expense 347 378 Credit 99,275 2,500 2,500 425,015 595,000 302,786 37,411 45,760 A B D 3 For the Years Ended December 31, 2020 and December 31, 2021 4 2020 2021 5 Debit Credit Debit Credit 27 Small Tool Sales 35,972 37,411 28 Tool Rental Revenue 16,201 45,760 29 COGS: Custom Cabinets 148,070 30 COGS: Material & Supplies 92,278 96,892 31 COGS: Small Tools 21,735 22,604 32 COGS: Wages 33,721 270,871 33 Depreciation Expense 8,950 37,785 34 Insurance Expense 6,426 31,594 35 Office Supplies Expense 1,464 1,596 36 Payroll Tax Expense 6,069 54,174 37 Postage Expense 347 378 38 Small Tool Expense 6,162 7,300 39 Interest Expense 7,500 11,408 40 Income Tax Expense 38,972 74,571 41 840,199 840,199 $ 1,888,985 $ 1,888,985 42