Golf Academy, Incorporated, provides private golf lessons. Its unadjusted trial balance at December 31, 2021, follows, along with information about selected accounts. Account Names Debit Credit Further Information Cash $ 30,900 As reported on December 31 bank statement. Based on count, only $100 of supplies Supplies 400 still exist. 0f this amount, $2,000 was received for Deferred Revenue $ 2,400 December lessons and $400 for January lessons. Employees were paid $3,000 for 1@ days of Salaries and Wages Payable 0 work through December 28. They have not yet been paid for work on December 29 and 30. Income Tax Payable 0 The company has paid last year's income tax but not this year's tax. The company has not paid the $110 of Interest Payable @ interest owed on its notes payable for the current period. This one-year note was taken out this year on December 1. This amount was contributed for common Notes Payable (long-term) 13,200 [y 1,000 stock in prior years. Retained Earnings 2,000 {2;2 ;Zahe balance reported at the end of Most customers pay cash for lessons each Service Revenue 49,200 time they are provided, but some customers pay in advance. Salaries and Wages Expense 35,100 g?glggieaorgdnzzgggg? gicember 39 but Supplies Expense 1,400 ;2Zm;2rtgg cost of supplies used through The company has not paid the $110 of Interest Expense 0 interest owed on its notes payable for the current period. Income Tax Expense 0 ;gg company has an average tax rate of Totals $ 67,800 $ 67,800 1. Prepare the (preliminary) unadjusted net income statement for the year ended December 31, 2021. GOLF ACADEMY, INCORPORATED Unadjusted Income Statement For the Year Ended December 31, 2021 Revenues Service Revenue $ 49,200 Total Revenues 49,200 Expenses Salaries and Wages Expense 35, 100 Supplies Expense 1,400 Total Expenses 36,500 Net Income