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Please show calculations and provided a worded explanation for the calculations! WILL UPVOTE Prepare the income statement for the ABC company for the year 2021:

Please show calculations and provided a worded explanation for the calculations! WILL UPVOTEimage text in transcribed

Prepare the income statement for the ABC company for the year 2021: 2020 $ 18,954 Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends Tax rate Owners' equity $ 2,897 7,580 1,524 998 9,487 12.987 1,652 30,654 79,002 6,874 21,654 1,365 35% 76,122 2021 $ 22,652 3,050 6,972 1,826 1,620 10,265 13,482 1,897 35,991 82,654 7,612 23,855 2,315 35% $77,865

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