Required information [The following information applies to the questions displayed below.] On January 1, 2021, Red Flash Photography had the following balances: Cash, $12,000; Supplies, $8,000; Land, $60,000; Deferred Revenue, $5,000; Common Stock $50,000; and Retained Earnings, $25,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $20,000. 2. May 20 Provide services to customers for cash, $35,000, and on account, $30,000. 3. August 31 Pay salaries to employees for work in 2021, $23,000. 4. October 1 Purchase rental space for one year, $12,000. 5. November 17 Purchase supplies on account, $22,000. 6. December 30 Pay dividends, $2,000. The following information is available on December 31, 2021: 1. Employees are owed an additional $4,000 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $5,000 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed. 4. Prepare an income statement, statement of stockholders' equity, and classified balance sheet. 4. Prepare an income statement, statement of stockholders' equity, and classified balance sheet. > Answer is not complete. Complete this question by entering your answers in the tabs below. Stmt of Income Statement Stockholders Balance Sheet Equity Prepare a statement of stockholders' equity. RED FLASH PHOTOGRAPHY Statement of Stockholders' Equity For the Year Ended December 31, 2021 Common Stock Balance at January 1 $ Add: Net Income Add: Dividends Balance at December 31 Retained Earnings Total Stockholders' Equity 54,000 $ 29,000 $ 83,000 20,000 20,000 15,000 15,000 2,000 2,000 $ 74,000 $ 42,000 $ 116,000 < Income Statement Balance Sheet > Accounts Payable Accounts Receivable Accumulated Depreciation Advertising Expense Inco Buildings Cash Deferred Revenue Delivery Expense Depreciation Expense Dividends Equipment Income Tax Expense Insurance Expense Interest Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Issuance of Common Stock Land Legal Fees Expense Notes Payable Notes Receivable Prepaid Advertising Prepaid Insurance Prepaid Rent Rent Expense Repairs and Maintenance Expense Retained Earnings Retained Earnings Salaries Expense Salaries Payable Service Fee Expense Service Revenue Service Revenue Supplies Supplies Expense Utilities Expense Utilities Payable