Required information [The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash 10,200 Accounts Receivable 132,000 4,200 21,000 220,000 Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) $117,000 10,200 9, 200 3,200 22,000 Common Stock 120,000 42,000 320,000 Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 220,000 11,000 22,000 3,200 $643,600 $643,600 Totals Required: 1. Prepare an income statement for the year ended December 31, 2021 FIGHTIN' BLUE HENS CORPORATION Income Statement For the Year Ended December 31, 2021 Expenses: Total expenses 0 Required information [The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Debit Credit Accounts 10,200 132,000 4,200 21,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) 220,000 $117,000 10,200 9,200 3,200 22,000 120,000 42,000 Common Stock Retained Earnings Service Revenue 320,000 Salaries Expense Rent Expense 220,000 11,000 22,000 Depreciation Expense Interest Expense 3,200 $643,600 $643,600 Totals 2. Prepare a statement of stockholders' equity for the year ended December 31, 2021, assuming no common stock was issued during 2021. FIGHTIN' BLUE HENS CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2021 Total Common Retained Stockholders' Stock Earnings Equity Balance at January 1 Less: Dividends Balance at December 31 The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit 10, 200 132,000 4,200 21,000 220,000 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) $117,000 10, 200 9,200 3,200 22,000 120,000 42,000 320,000 Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 220,000 11,000 22,000 3,200 $643,600 $643,600 Totals 3. Prepare a classified balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) FIGHTIN' BLUE HENS CORPORATION Balance Sheet December 31, 2021 Assets Liabilities Current assets: Current liabilities: Total current assets 0 Total current liabilities Total liabilities 0 Long-term assets: Stockholders' Equity Total stockholders' equity Total long-term assets 0 0 Total liabilities and stockholders' equity $ $ 0 Total assets
