Required information [The following information applles to the questions displayed belawi] Bailey Delivery Company, Incorporated, was organized in 2021 in Wisconsin. The following transactions occurred during the year: a. Received cash from investors in exchange for 10,000 shares of stock (par value of $1.00 per share) with a market value of $4 per share. b. Purchased land in Wisconsin for $16,000, signing a one-year note (ignore interest). c. Bought two used delvery trucks for operating purposes at the start of the year at a cost of $10,000 each; paid $4,000 cash and signed a note due in three years for the rest (ignore interest). d. Paid $1,000 cash to a truck repair shop for a new motor for one of the trucks. (increase the account you used to record the purchase of the trucks because the productive life of the truck has been improved.) e. Sold one-fourth of the land for $4,000 to Pablo Development Corporation, which signed a six-month note. f. Stockholder Helen Balley paid $27,600 cash for a vacant lot (land) in Canada for her personal use. 2. Prepare a trial balance at December 31,2021 . BAILEY DELIVERY COMPANY, INCORPORATED Trial Balance \begin{tabular}{ll|l|} \hline \multicolumn{2}{|c|}{ For the Year Ended December 31, 2021} \\ \hline Cash & Debit & Credit \\ \hline Commonent stock & & \\ \hline Land & & \\ \hline Totals & & \\ \hline \end{tabular}