Required information [The following information applies to the questions displayed below.] The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated Accounts Payable Accounts Receivable Cash (balance on January 1, 2021) Cash (balance on December 31, 2021) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Office Expense Prepaid Rent Retained Earnings (beginning) Salaries and Wages Expense Service Revenue Utilities Expense Salaries and Wages Payable Other cash flow information: Cash from issuing common stock Cash paid to reacquire common stock Cash paid for income taxes Cash paid to purchase long-term assets Cash paid to suppliers and employees Cash received from customers $ 58,000 35,800 112,400 94,000 135,000 0 149,700 11,400 30,800 18,500 36,900 15,600 8,300 12,800 37,000 163,800 26,400 21,000 $ 34,000 38,900 12,300 65,400 98,800 163,000 2. Prepare a statement of retained earnings for 2021. NICE BITE, Incorporated VITTLE LANCI Prepaid Rent Retained Earnings (beginning) Salaries and Wages Expense 25,544 8,300 12,800 37,000 Service Revenue Utilities Expense Salaries and Wages Payable 163,800 26,400 21,000 Other cash flow information: Cash from issuing common stock Cash paid to reacquire common stock Cash paid for income taxes Cash paid to purchase long-term assets Cash paid to suppliers and employees Cash received from customers $ 34,000 38,900 12,300 65,400 98,800 163,000 2. Prepare a statement of retained earnings for 2021. NICE BITE, Incorporated Statement of Retained Earnings For the Year Ended December 31, 2021 Retained Earnings, January 1, 2021 Add: Net Income. Retained Earnings, December 31, 2021 $ 12,800