d Boilermaker Unlimited specializes in building new homes and remodeling existing homes. Remodeling projects include adding gar rooms, changing kitchen cabinets and countertops, and updating bathrooms. Below is the year-end adjusted trial balance of Boilermaker Unlimited. Accounts Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Debits Credits $ 14,400 25,600 32,600 5,400 425,000 $ 136,000 29,400 Salaries Payable Utilities Payable 26,400 3,400 Notes Payable (due in 5 years) 110,000 Common Stock 120,000 Retained Earnings 49,600 Dividends 24,400 Service Revenue-new construction Service Revenue-remodeling 370,000 257,000 Salaries Expense 144,000 Supplies Expense 269,000 Depreciation Expense 34,000 Insurance Expense 23,400 Utilities Expense 40,400 Interest Expense Service Fee Expense Totals 6,600 57,000 $1,101,800 $1,101,800 Drev 26 of Novt W BOILERMAKER UNLIMITED Income Statement For the Year Ended December 31, 2021 Service Revenues: Accounts Receivable 25,600 Service Revenue - New Construction 370,000 Service Revenue - Remodeling 257,000 Total Revenues Expenses: Salaries Expense 144,000 Supplies Expense 269,000 Depreciation Expense 34,000 Insurance Expense 23,000 Utilities Expense 40,000 Interest Expense Service Fee Expense 6,000 x 57,000 Total Expenses $ 652,600 573,000 Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity for the year ended December 31, 2021, issued additional common stock for $14,000. This amount is included in the amount for balance. BOILERMAKER UNLIMITED Statement of Stockholders' Equity For the Year Ended December 31, 2021 Balance at January 1 Common Stock $ 14,400 x Retained Total Stockholders' Earnings Equity Cash 120,000 x 49,600 Add: Net Income 25,600 25,600 Less: Dividends 24,400 Balance at December 31 $ 772,600 X < Required 1 Required 3 > *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Required 1 Required 2 Required 3 Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) Assets Current Assets: Cash Supplies Equipment BOILERMAKER UNLIMITED Balance Sheet December 31, 2021 Liabilities Current Liabilities: $ 14,400 Accounts Payable 32,000 Salaries Payable 425,000 Utilities Payable $ 29,400 26,400 3,400 Total Current Assets 471,400 Total Current Liabilities 59,200 Long-term Assets: Long-term Liabilities: Prepaid Insurance 5,400x Notes Payable 684,000 New Construction 370,000 Remodel 257,000 Total Liabilities $ 743,200