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The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances:

Accounts	Debits				Credits
Cash	$	14,000
Accounts Receivable		6,800
Supplies		2,800
Equipment		16,000
Accumulated Depreciation					$	5,400
Salaries Payable						7,900
Common Stock						19,000
Retained Earnings						7,300
Totals	$	39,600			$	39,600

The following is a summary of the transactions for the year:

1.		March		12		Provide services to customers, $48,000, of which $19,800 is on account.
2.		May		2		Collect on accounts receivable, $16,800.
3.		June		30		Issue shares of common stock in exchange for $5,000 cash.
4.		August		1		Pay salaries of $7,900 from 2020 (prior year).
5.		September		25		Pay repairs and maintenance expenses, $11,800.
6.		October		19		Purchase equipment for $6,800 cash.
7.		December		30		Pay $1,000 cash dividends to stockholders.

8-a. Prepare the income statement for the year ended December 31, 2021.

Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $48,000, of which $19,800 is on account. 2. May 2 Collect on accounts receivable, $16,800. 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $7,900 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,800. 6. 0ctober 19 Purchase equipment for $6,800 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. 8-a. Prepare the income statement for the year ended December 31, 2021. 8-b. Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $48,000, of which $19,800 is on account. 2. May 2 Collect on accounts receivable, $16,800. 3. June 30 Issue shares of common stock in exchange for $5,000 cash. 4. August 1 Pay salaries of $7,900 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $11,800. 6. 0ctober 19 Purchase equipment for $6,800 cash. 7. December 30 Pay $1,000 cash dividends to stockholders. 8-a. Prepare the income statement for the year ended December 31, 2021. 8-b. Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)