Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Debits $20,000 8,000 4,000 15,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals $ 5,000 7,500 25,000 9,500 $ 47,000 $ 47,000 The following is a summary of the transactions for the year: 1. March 12 Provide services to customers, $60,000, of which $21,000 is on account. 2. May 2 Collect on accounts receivable, $18,000. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $7,500 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $13,000. 6. October 19 Purchase equipment for $8,000 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. RED STORM CLEANERS Unadjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash Accounts Receivable 29,000 4,000 23,000 Supplies Equipment Accumulated Depreciation Salaries Payable $ 5,000 Common Stock 7,500 31,000 9,500 Retained Earnings Dividends Service Revenue 60,000 13,000 Salaries Expense Repairs and Maintenance Expense Depreciation Expense Supplies Expense Totals $ 56,000 $ 126,000 Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Repairs and Maintenance Expense Depreciation Expense Supplies Expense Totals RED STORM CLEANERS Income Statement For the Year Ended December 31, 2021 Expenses: Total expenses RED STORM CLEANERS Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Stockholders' Equity Total Current Assets Long-term Assets: Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assets RED STORM CLEANERS Post-Closing Trial Balance December 31, 2021 Accounts Debit Credit Totals