Part 1) Corporate Financial Statements The following are financial statements for an unincorporated business To the night is additional information you will use to create financial statements for an incorporated business (a corporation Create the statements in good format. See the rubric for exact requirements Crimson Contracting Income Statement Year ended December 31, 2022 Revenues Consulting revenue interest revenue Total Revenue 245,830 2125 1 247.955 Operating Expenses Salaries expense $ 68,830 Rent expende 56.830 Depreciation expense 7.630 Ubilities expense 4.030 Insurance expense 8.622 Supplies expense 3230 Total Operating Expenses 349.172 Net Income 4 98,783 Crimson Contracting Statement of Owner's Equity Year ended December 31, 2022 K Smeltz Capital, January 1 2022 Add Net Income $ 33.025 98.783 131808 Less drawings K Smeltz, Capital, December 31, 2022 3 39.580 92 228 Assets Crimson Contracting Balance Sheet As at December 31, 2022 Current Assets Cash Accounts receivable Note receivable interest receivable, Supplies Prepaid insurance Total Current Assets $ 26.830 19.420 4,330 1500 2070 4,400 58.638 Property, Plant and Equipment Furniture $ 85.830 Less Accumulated Depreciation 24.200 Total Assets 61590 $20228 Liabilities and Owners' Equity Current Liabilities Accounts payable Salaries payable 1 19:230 5.720 3050 With the following information, prepare these same statements as if it were a corporation 1 The corporation's name is Crimson Consulting Inc. 2. The total amount of common thares is 17.000 3 Dividends paid in 2022 amounted to $ 29.580 4 Opening retained earnings for the year was 1 6025