ok 24 ences 1. On March 31, 2020, Zambrano lent a customer $51,000. Interest at 8% is payable annually on each March 31. Principal is due in 2024. 2. The annual insurance payment is paid in advance on April 30. The policy period begins on May 1 3. On October 31, 2021, Zambrano borrowed $105,000 from a local bank and signed a note promising repayment. Principal and interest at 6% are due on October 31, 2022 4. Annual rent on the company's facilities is paid in advance on June 30. The rental period begins on July 1. Required: 1. Prepare an accrual basis income statement for 2021 (ignore income taxes). 2. Determine the following balance sheet amounts on December 31, 2021: