income statement

Complete this question by entering your answers in the tabs below. Prepare an income statement for the three months ended December 31, 2021. Business Solutions had the following transactions and events in December 2021. December 2 Paid $950 cash to Hillside Mall for Business Solutions's share of mall advertising costs. December 3 Paid $480 cash for minor repairs to the company's computer. December 4 Received $4,750 cash from Alex's Engineering Conpany for the receivable from November. December 10 Paid cash to Lyn Addie for six days of work at the rate of $110 per day. December 14 Notified by Alex's Engineering Company that Business Solutions's bid of $7,400 on a proposed project has been accepted. Alex's paid a $1,900 cash advance to Business Solutions. December 15 Purchased $1,900 of computer supplies on credit from Harris office Products. December 16 Sent a reminder to Gomez Conpany to pay the fee for services recorded on November 8 . December 20 Completed a project for Liu Corporation and received $6,475 cash. December 22-26 Took the week off for the holidays. December 28 Received $4,000 cash from Gomez Company on its receivable. December 29 Reimbursed 5 . Rey for business automobile mileage (400miles at $0.25 per mile). December 31 Paid $1,300 cash for dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. a. The December 31 inventory count of computer supplies shows $670 still available. b. Three months have expired since the 12 -month insurance premium was paid in advance. c. As of December 31, Lyn Addie has not been paid for four days of work at $110 per day. d. The computer system, acquired on October 1 , is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1 , is expected to have a five-year life with no salvage value. f. Three of the four months' prepaid rent have expired. Required: 1. Prepare journal entries to record each of the December transactions. Post those entries to the accounts in the ledger. 2-a. Prepare adjusting entries to reflect a through f. 2-b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger