Credit $12,000 Derek Photography, Inc. Worksheet For the Year Ended December 31, 2021 Accounts Debit Cash $15,000 Accounts receivable 30,000 Prepaid insurance 7,500 Office supplies 3,200 Land 40,000 Building 160,000 Accumulated depreciation Equipment 75,000 Accumulated depreciation Accounts payable Salaries payable Unearned service revenue Mortgage payable Common stock Retained earnings Dividends 23,000 Service revenue Salaries expense 61,000 Depreciation expense 6,150 Supplies expense 14,0400 Insurance expense 14,000 Utilities expense 20,900 $469,790 8,500 12,000 2,000 25,000 100,000 10,000 11,290 289,000 $469.790 Requirements: 1. Using the information provided in the worksheet above, prepare an income statement, retained earnings and balance sheet for Derek Photography, Inc. 2. Is Derek Photography, Inc. profitable? 3. What is Derek's profit margin? 4. What is Derek's debl lo equily ralio