education.com Saved Help Save & Exit 1 Check Orange Designs provides consulting services related to home decoration. Orange Designs provides customers with recommendations for a full range of home decor, including window treatments, carpet and wood flooring, paint colors, furniture, and much more. Below is the year-end adjusted trial balance of Orange Designs, 21:20 ORANGE DESIGNS Adjusted Trial Balance December 31, 2021 Accounts Cash Accounts Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Notes Payable (due in four years) Common Stock Retained Earnings Service Revenues Salaries Expense Rent Expense Depreciation Expense Supplies Expense Advertising Expense Utilities Expense Interest Expense Totals Debits Credits $ 4,600 3,600 1,600 5,600 106,000 $ 20,600 2,600 3,600 1,200 16,000 46,000 14,600 116,000 41,600 17,600 6,608 7,600 12,600 11,600 1,600 $220,688 $220,600 ces Required: 1. Prepare an income statement for the year ended December 31, 2021. 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $12.000 This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2021. Complete this question by entering your answers in the tabs below. Help Save & C 1. Prepare an income statement for the year ended December 31, 2021. 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $12.000, This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2021. Complete this question by entering your answers in the tabs below. 5 Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $12,000. This amount is included in the amount for Common Stock in the adjusted trial balance ORANGE DESIGNS Statement of Stockholders' Equity For the Year Ended December 31, 2021 Total Common Stock Retained Stockholders' Earnings Equity Balance at January 1 $ 46,000 $ 14,600 $ 60,600 Issuance of Common Stock 12,000 12,000 Add: Net Income 23.400 23,400 . $ Balance at December 31 58,000 $ 38,000 $ 96,000