Great Plan Corporation Adjusted Trial Balance December 31, 2021 Credit Debit 10,500 $2.800 4,000 4,800 1,500 10,000 25,000 1,500 5.000 56.000 500 Account Title Cash Accounts Receivable Inventory Prepaid Rent Office Supplies Land Equipment Accumulated Depreciation, Equipment Patents, net of amortization Accounts Payable Income Tax Payable Wages Payable Interest Payable Unearned Revenue (short-term) Notes Payable (Due in 14 months) Mortgage Payable Bonds Payable Common Stock Paid-in Capital in Excess of Par - Common Retained Earnings, 1/1/2021 Dividends Sales Revenue Cost of Goods Sold Salaries Expense Supplies Expense Utilities Expense Rent Expense Depreciation Expense Interest Expense Total 2.000 1,000 500 1.000 9,000 10,000 2,000 8,000 8.100 1,500 27,500 8,400 1.000 100 700 1.000 600 200 77.100 S77.100 Using the adusted trial balance above, prepare the end of 2021 financial statements of Great Plan Corporation: a) Multistep Income Statement b) Statement of Retained Earnings Classified Balance Sheet Income statement Sales Revenue Gross Profit Operating Expenses Total Operating Expense Operating Income Other Expenses Interest Expense Net Income b. Statement of Retained Earnings Retained Earnings 1/1/2021 Retained Earnings 12/31/2021 I C. Balance Sheet Assets Current Assets Total Current Assets Long-Term Assets Total Long-term Assets Total Assets Liabilities Current Liabilities Total Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity Total Stockholders Equity Total Liabilities and Stockholders' Equality