Saved Help Save & Exit Su 4 Check my w LACCIOU WOULUI CUI A [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. 1 of 2 Credits Debits 2e, een 35, eee 5,000 5 , 100,eee 3:03:54 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Utilities expense Advertising expense Totals 30,000 25,000 e 160,000 29,000 323,000 180,000 71,000 30,000 @ 12,000 4, een 507,800 507,000 search o O Depreciation expense Utilities expense Advertising expense Totals 12,000 4,000 507,000 507,800 The following year-end adjusting entries are required: a. Depreciation expense for the year on the equipment is $10,000. b. Salaries at year-end should be accrued in the amount of $4,000. cercise 2-20 (Static) Part 1 uired: epare and complete a worksheet. WOLKSTE Seved Help Save & Exit Check my world Required information Account Title Adjusting Entries Dr. Cr. Adjusted Trial Balance Dr CH Balance Sheet Income Statement DE Cr DE Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salnes payable Common stock Retained earnings Sales revenue Cost of goods sold Salarios expenso Ront expense Depreciation expense Unities exponse Advertising expense Unadjusted Trial Balance Dr. Cr. 20.000 35,000 5,000 50.000 100,000 30,000 25,000 0 100,000 29.000 323.000 180.000 71 000 30.000 0 12.000 4000 Not income Totals 507.000 507 000 O C search Required information Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Prepare an income statement for 2021. WOLKSTEIN DRUG COMPANY Income Statement For the Year Ended December 31, 2021 Gross profit Operating expenses Total operating expenses Net income