please fill out statement of stockholders equity and the income statement

using the pictures please create an income statement as shown on the sheet. also please create statement of stockholders equity. I cannot figure out what numbers to use for the income statement the program keeps telling me im wrong. please help

A Byte of Accounting, Inc. Trial Balance As of November 30, 2020 Unad usted To Be Db Credit GT500 20.00000 5 600 00 Account Nam cou 20 Receive THDAngelo Do Account regardince 11 Predent 1110 1160 pener Cameoffice Equip 2600 00 270000 64100 00 6.100 DO 20 000.00 4 000 00 358500 DO Depar computer Equip HOA Paya 21eaned Revenue 03 repayati 3165 and Wages Payabile 2100 income Tax Payable 22 NO Peytile A Byte of Accounting, Inc. Post Closing Trial Balance As of December 31, 2019 Credit Debit 41.630.00 30 000.00 800.00 2.800.00 900.00 64,100.00 6,100.00 Account Number Name 1110 Cash 1120 Accounts Receivable 1121 Allowance for Doubtful Accounts 1140 Prepaid Rent 1150 Supplies 1211 Office Equipment 1212 Accur. Depr.-Office Equip 1311 Computer Equipment 1312 Accur. Depr-Computer Equip 2101 Accounts Payable 2105 Salaries and Wages Payable 2106 Income Taxes Payable 3100 Common Stock 3120 Paid-in Capital in Excess of Par 3200 Retained Earnings Total 20,000.00 4,000.00 47 330 00 800.00 6,000.00 48.400 00 22.000.00 24,000.00 159,230 00 159 230.00 Byte of Accounting The lyte of Accounting Corporation (Byte) sells turn-key computer systems to midsize businesses on count. Hyte was started by Lauryn on January 1 of last year when she was issued 2,200 shares of stock Business Operations: Clients' orders are drop shipped directly from the suppliers to the client's location. Upon delivery of the hardware, Blyte is notified and Byte's employees install, modify and test the new items . Significant Accounting Policies: The business has adopted the following accounting policies: Items that cost less than $2,000.00 are expensed, Investory is valued using a perpetual inventory system. Specific identification is used to determine the cost of computers sold since the units are drop shipped directly to the clients, In response to customers, Byte will now start to inventory and install Super Toners at our clients locations. Perpetual FIFO will be used for the Super Toners. The allowance method is used to account for bad debts. Rent payments are expensed in the period in which they are incurred. When calculating depreciation, assets purchased during a month are treated as if purchased on the first day of the month. Transaction Description of transaction 01. December 1: Zachary Church, a new investor, made an investment in Byte by purchasing 2,700 shares of its common stock paying S86,400.00 in cash. The par value of the common stock was $22.00 per share. 02 December 3: Byte purchased a Ricoh Color Copier for 55,100.00. The invoice number was 61298. Byte paid 10% in cash and signed a three-year note for the remaining balance. Interest at a rate of 6% a year will be paid semiannually. 03. December 3: Check # 6001 for $2,600.00 was issued by Byte to pay for rent of the office space for December. 04. December 3: Byte received 19 Super Toners for resale to customers at a cost of $22.00 per toner. The invoice number was 7249, and requires payment within 30 days. 05. December 10: Byte sold 14 Super Toners to a customer on account for $52.00 each. The Sales order number was 12100 OP Byte of Accounting December 10: llyte records the cost of the 14 Super Toners sold using FIFO. The sales order 13100 December il Check 6002 was issued to pay salaries of $2,000.00 to equipment operators. Opere payroll takes at this time.) December 140 Check 6003 was rued to purchase a one-year insurance policy covering its computer equipment. The cost of the insurance is 56,456.00 and paid to Seth's Insurance. The effective date of the policy wes December 16 and the invoice number was 2387. 03 00 December 15 Byte purchased 5700.00 of supplies on account 10 December 16t Byte received 10 Super Toners purchased for resale to customers. The cost was $29.00 per toner. The invoice number was 1959, and payment is required in 30 days. 11. December 17: Byte was informed that Mr. Madoff who has an account with the company will never pay the 5524.00 he owes. Record the transaction to write off Mr. Madoff's accounts receivable ecout using the allowance method. 12 December 17: Byte received invoice number 26354 in the amount of $700.00 from the local newspaper for advertising, el December 18 Check 6004 was issued to pay Accounts Payable in the amount of $820.00 14 December 19: Byte sold 14 Super toners to a customer on account for $52.00 each. The sales order number was 12101. 15 December 19: Byte records the cost of the 14 Super Toners sold using FIFO. The sales order number was 12101 16 December 21: Byte received an emailed invoice in the amount of $6,100.00 for computers that were drop shipped and received today December 21: Byte billed various miscellaneous local customers $12,200.00 for computers that were delivered today. 18. December 21: Record the cost of the computers that were sold today. December 22: Check # 6005 was issued to pay salaries of $2,000.00 to equipment operators. Ignore payroll taxes at this time.) 20. December 22: Byte received a bill for $1,515.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 21. December 22: Check # 6006 was issued to pay the advertising bill that was previously received and recorded from the local newspaper for advertising, invoice number 26354. Byte of Accounting December 22: Byte received 17 Super Toners purchased for resale to customers. The cost was 131.00 per toner. The invoice number was 8988, and payment is required in 30 days. 22 23 December 23Byte received 521,078.00 from customers billed when they received delivery. December 23: Byte received an emailed invoice in the amount of $7,350.00 for computers that were drop shipped and received today 24 25. December 28: Byte billed various miscellaneous local customers 514,700.00 for computers that were delivered today 20 December 28 Record the cost of the computers that were sold today. 27. December 28: Byte paid the bill that was previously received and recorded from Computer Parts and Repairs Co with Check 6007. The invoice number was 43254. December 29: Byte received $14.375.00 from customers billed when they received delivery 20. December 29: Byte received a bill for the amount of 5680.00 from AT&T for the telephone and internet access. The invoice number was 784537. 30 December 30: Check 6008 was issued to pay salaries of $2,000.00 to equipment operators. Ignore payroll taxes at this time.) 31. December 30: Check # 6009 was issued to pay a cash dividend of 5.25 per share to Lauryn, a shareholder of Byte. 32 December 30: Check # 6010 was issued to pay a cash dividend of 5.25 per share to Zachary Church, a shareholder of Byte. 33. December 30: Byte received a 59,215.00 check from Church Corporation for merchandise ordered which will be delivered in January Christian Wolff, Byte's CPA, indicated that the previous bookkeeper was not very good. The CPA prepared a bank reconciliation and discovered that the bookkeeper neglected to record the bond issued on January 1 of this year and neglected the recording of the interest payment on June 30. Since Byte does not make entries into closed" periods, record the entries as of December 31. 34. December 31: On January 1, Byte received $128,926.80 when they issued a S120,000.00, 7%, ten- year bond. Interest is to be paid semiannually on June 30 and December 31. The market rate was 6%. This entry was never recorded. Byte of Accounting Adjusting Entries - Record the following adjusting entries in the general journal and post to the oral ledger Round to become a Roundnumber ar formula, 2). 37. The cash received and deposited from customers was 514,400.00 not the $14,375.00 orignially recorded. 38 A physical investory showed that only $878.00 worth of supplies remained on hand as of December 31. The interest on the mote for the Ricoh Color Copier will be paid every six months. Record the December accrued interest on the note payable for the Ricoh purchased on December 1. Record a journal entry to reflect that one-half month's insurance has expired. 41. A review of Byte's emails indicated that they received an invoice in the amout of S4,065.00 for computers that were drop shipped and received on December 28. 42 Bill various miscellaneous customers 200% of the cost of the computers that were drop shipped and received on December 28. Record the cost of the computers that were sold on December 28. 44 The computer equipment on the Post Closing Trial Balance from last year was purchased last January for $20,000.00. It is being depreciated based upon an estimated useful life of 5.0 years with no salvage value. Calculate the depreciation for one year using the straight-line method of depreciation. 45 The Ricoh Color Copier, part of the office equipment, is estimated to be able to make 480,000 copies and have a salvage value of $500.00. During December, 9,500 copies were made. Calculate the depreciation for one year using the activity-based method of depreciation. Byte of Accounting The remaining office equipment, 564,100.00, was purchased last January and has an estimated useful life of 100 years with a salvage value of 53.100.00. Calculate the depreciation for one year using the straight-line method of depreciation Amstew of Wyte's payroll records show that unpaid salaries in the amount of S1,200.00 are owed by Byte for three days, December 28 - 31. mare payroll taxes at this time.) 40 Bytek CPA indicated that 5.00% of the outstanding Accounts Receivable would be a good estimate of the collectable accounts. Record the bad debt expense using the adjusted allowance method. 48 Byte's income taxes are to be computed at the rate of 25% of net income before tases IMPORTANT NOTE: Since the income taxes are a percent of the net income, you will want to prepare the Income Statement through the Net Income Before Tax line. A Awtur justing journal entries to the general ledger and prepare the Adjusted Trial Balance as of Dewmber 31. Ling the Adjusted Trial Balance as of December 31 as a reference, prepare the income Statement, Statement of Stockholder's Equity, Balance Sheet and Statement of Cash Flows Ev vage Productions 50 Sheet Legal Pad Byte of Accounting 35. December 31: Check #5367 was issued on June 30 for the timely interest payment for the bend. Record the entry using the straight-line method. This entry was never recorded. 36. December 31: Check # 6011 was issued on December 31st for the timely interest payment for the bond. Record the entry using the straight-line method. Post your journal entries to the general ledger and prepare the Unadjusted Trial Balance as of December 31st B. Make sure your work is correct by uploading your file. A Byte of Accounting, Inc. Statement of Stockholders' Equity For Year Ending December 31, 2020 Common Stock Paid In Capital in Excess of Par Retained Earnings Total Stockholders Equity Balance, Beginning of Period Issue of Common Stock Cash Dividends Net Income Balance, End of Period A Byte of Accounting, Inc. Income Statement For Year Ending December 31, 2020 Revenues Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Rent Expense Salaries and Wages Expense Advertising Expense Maintenance & Repairs Expense Supplies Expense Interest Expense Insurance Expense Depreciation Expense Bad Debt Expense Telephone and Internet Expense Total Net Income Before Tax Income Tax Expense (Round to two decimal places) Net Income After Tax