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3 Required Information The following Information applies to the questions displayed below) The general ledger of Pipers Plumbing at January 1, 2021, Includes the following account balances: Accounta Debita Credits Cash 5 3.600 Accounts Receivable 8,600 Supplies 2,600 Equipment 18,000 Accumulated Depreciation $ 4,400 Accounts Payable 2,400 Utilities Payable 3,400 Deferred Revenue 0 Common Stock 14,000 Retained Earnings 8,600 Totals $32.800 532,800 ces The following is a summary of the transactions for the year 1. January 24 Provide plumbing services for cash, $11,000, and on account, $56.000. 2. Karel 13 Collect on accounts receivable, $44,000. 3. May 6. I shares of common stock in exchange for $10,000 cash. 4. June 30 Pay salaries for the current year, $31,200. 5. September 15 Pay utilities of $3,400 From 2020 (prior year). 5. November 24 Receive cash in advance from customers, 56,400. 7. December 30 Pay $1,200 cash dividendo to stockholders. The following Information is available for the adjusting entries. Depreciation for the year on the machinery is $4,400. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $6,400 paid in advance by customers, $5,200 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,800 8-a. Prepare an income statement for the year ended December 31, 2021. PIPERS PLUMBING Income Statement For the Year Ended December 31, 2021 Expenses 8-a. Prepare an income statement for the year ended December 31, 2021. PIPERS PLUMBING Income Statement For the Year Ended December 31, 2021 Expenses: Total expenses 8-b. Prepare a classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) PIPERS PLUMBING Balance Sheet December 31, 2021 Assets Current Assets Liabilities Current Liabilities: + Total current assets Long-term Assets Total Current Liabilities Stockholder's Equity Required information Expenses Total expenses 8-b. Prepare a classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) PIPERS PLUMBING Balance Sheet December 31, 2021 Assets Liabilities Current Assets Current Liabilities Total current assets Long-term Assets Total Current Liabilities Stockholder's Equity Total Stockholder's Equity Total Liabides and Stockholders' Equity Total Assets