Russell Engineering provides consulting services related to land development. Below is the year-end adjusted trial balance of Russell Engineering. RUSSELL ENGINEERING Adjusted Trial Balance. December 31, 2021 Accounts Debits Credits Cash $ 5,500 Accounts Receivable 4,200 Supplies 2,300 Prepaid Rent 6,100 Equipment 114,000 Accumulated Depreciation. $ 25,000 Accounts Payable Salaries Payable 3,600 3,500) Utilities Payable 1,500. Notes Payable (due in 4 years) 20,000 Common Stock 44,800 Retained Earnings 20,200. Service Revenue 118,500 Salaries Expense 45,000 17,600 Rent Expense Depreciation Expense Supplies Expense 6,000 9,400 Advertising Expense 15,000 Utilities Expense 10,800 Interest Expense 1,200 Totals $237,100 $237,100 Required: 1. Prepare an income statement for the year ended December 31, 2021. RUSSELL ENGINEERING Income Statment For the Year Ended December 31, 2021 Required: 1. Prepare an income statement for the year ended December 31, 2021. RUSSELL ENGINEERING Income Statment For the Year Ended December 31, 2021 $ Expenses: Total expenses 0 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $8,000, This amount is included in the amount for Common Stock in the adjusted trial balance. RUSSELL ENGINEERING Statement of Stockholders' Equity For the Year Ended December 31, 2021 Common Stock Retained Earnings Total Stockholders' Equity Balance at January 1 Balance at December 31 3. Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) RUSSELL ENGINEERING Balance Sheet December 31, 2021 Assets Liabilities Current assets: Current liabilities: 3. Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted sho minus sign.) RUSSELL ENGINEERING Balance Sheet December 31, 2021 Assets Liabilities Current assets: Current liabilities: 0 Total current liabilities. 0 Total current assets Long-term assets: Long-term liabilities: Total liabilities Stockholders' Equity Total stockholders' equity Total assets 0 Total liabilities and stockholders' equity $ $ 0 0 0