On January 1, 2021, Red Flash Photography had the following balances: Cash, $25,000; Supplies, $9,300; Land, $73,000; Deferred Revenue, $6,300; Common Stock $63,000; and Retained Earnings, $38,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $33,000. 2. May 20 Provide services to customers for cash, $48,000, and on account, $43,000. Pay salaries to employees for work in 2021, $36,000. 3. August 31 4. October 1 Paid for one year's rent in advance, $25,000. 5. November 17 Purchase supplies on account, $35,000. 6. December 30 Pay dividends, $3,300. The following information is available on December 31, 2021: 1. Employees are owed an additional $5,300 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $6,300 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed. Answer is not complete. 3 Aug 31 Salaries Expense 36,000 Cash 36,000 4 Oct 01 Prepaid Rent Cash 25,000 25,000 5 Nov 17 Supplies 35,000 Accounts Payable 35,000 6 Dec 30 Dividends Cash 3,300 3,300 7 Dec 31 Salaries Expense 5,300 Salaries Payable 5,300 8 Dec 31 Rent Expense 6,250 Prepaid Rent 6,250 9 Dec 31 Supplies Expense 38,000 Supplies 38,000 10 Dec 31 Deferred Revenue Service Revenue F 11 Dec 31 No Journal Entry Required 12 Dec 31 No Journal Entry Required 13 Dec 31 No Journal Entry Required 6,300 6,300 Answer is not complete. General Requirement Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Adjusted Revenues: Service Revenue Total Revenue Expenses: Salaries Expense RED FLASH PHOTOGRAPHY Income Statement For the year ended December 31, 2021 Supplies Expense Rent Expense Total Expenses Net Income 444 97,300 41,300 38,000 6,250 97,300 85,550 $ 11,750 < Trial Balance Statement of SE > Requirement Answer is not complete. General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Using the dropdown buttons, select the item that accurately describes the values that either increase or decrease the balance indicated. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Adjusted RED FLASH PHOTOGRAPHY Statement of Stockholders' Equity For the Period Ended December 31, 2021 Dates: Jan 01 Common Stock Retained Earnings Total Stockholders' Equity Balance at January 1 Add: Issuance of Common Stock $ 63,000 38,000 $ 101,000 33,000 33,000 Add: Net Income for 2021 Less: Dividends 11,750 (3,300) 11,750 (3,300) Balance at December 31 $ 96,000 $ 46,450 $ 142,450 Income Statement Balance Sheet to: Dec 31 Answer is not complete. General Requirement Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. (Enter all account descriptions, even those with zero balances.) Adjusted RED FLASH PHOTOGRAPHY Balance Sheet As of December 31, 2021 Dates: Jan 01 to: Dec 31 Assets Current Assets: Cash Liabilities Current Liabilities: Accounts Receivable Supplies Prepaid Rent 0000 49444 41,700 Accounts Payable 404 35,000 43,000 Salaries Payable 5,300 6,300 0 18,750 0 0 Total Current Liabilities 40,300 0 0 0 0 Total Current Assets 109,750 Total Liabilites 40,300 Long-term Assets: Land Stockholder's Equity 73,000 Common Stock 96,000 0 Retained Earnings 46,450 0 0 Total Stockholders' Equity 142,450 Total Assets $ 182,750 Total Liabilities & Stockholders' Equity $ 182,750 < Statement of SE Balance Sheet >