Required:

1. Prepare an income statement for the year ended December 31, 2021.
2. Prepare the statement of stockholders equity, note that during the year the company issued additional common stock of $10,000. This amount is included in the amount for Common Stock in the adjusted trial balance.
3. Prepare the classified balance sheet for the year ended December 31, 2021.

Orange Designs provides consulting services related to home decoration. Orange Designs provides customers with recommendations for a full range of home dcor, including window treatments, carpet and wood flooring, paint colors, furniture, and much more. Below is the year-end adjusted trial balance of Orange Designs. ORANGE DESIGNS Adjusted Trial Balance December 31, 2021 Debits $ 5,300 Credits Accounts Cash Accounts Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable 4,300 2,300 6,300 113,000 $ 21,300 3,300 4,300 1,000 23,000 53,000 15,300 114,100 Notes Payable (due in four years) Common Stock Retained Earnings Service Revenues Salaries Expense 42,300 18,300 7,300 8,300 13,300 12,300 2,300 Rent Expense Depreciation Expense Supplies Expense Advertising Expense Utilities Expense Interest Expense Totals $235,300 $235,300 Required: 1. Prepare an income statement for the year ended December 31, 2021. 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $10,000. This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2021. Required: 1. Prepare an income statement for the year ended December 31, 2021. 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $10,000. This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2021. Complete this question by entering your answers in the tabs below. Required 2 Required 1 Required 3 Prepare an income statement for the year ended December 31, 2021. ORANGE DESIGNS Income Statment For the Year Ended December 31, 2021 Expenses: Total Expenses Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $10,000. This amount is included in the amount for Common Stock in the adjusted trial balance. ORANGE DESIGNS Statement of Stockholders' Equity For the Year Ended December 31, 2021 Total Stockholders' Retained Common Stock Earnings Equity Balance at January 1 Balance at December 31 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) ORANGE DESIGNS Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Assets Long-term Assets: Total Current Liabilities Long-term Liabilities: Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assets