Depreciation expense Rent expense Income tax expense Net income (loss) 40,000 24,000 13,000 51,000 Requirement 2. Prepare Stylistic's balance sheet at December 31, 2021. Stylistic Motors, Inc. Balance Sheet December 31, 2021 Current assets: Cash Assets Accounts receivable Inventory Total current assets Liabilities Current liabilities: Accounts payable Salary payable Total current liabilities Property, plant, and equipment: Equipment Less: Accumulated depreciation Total assets Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity