S&J Lawn Service company maintains its books on a cash basis. However the company recently borrowed $100,000 from a local bank and the bank requires S&J to provide annual financial statements prepared on an accrual basis. During 2021, the following cash flows were recorded: Cash collected for services to customers: 320,000 Cash paid for : Salaries Supplies Rent Insurance Misc. Net operating cash flow (CRB) 180,000 25,000 12,000 6,000 20,000 243,000 77,000 You are able to determine the following information about accounts receivable, prepaid expenses and accrued liabilities: Accounts receivable Prepaid Insurance Supplies Accrued Liabilities 1/1/2021 12/31/2021 32,000 27,000 2,000 1,000 1,500 2,400 3,400 In addition, you learn that the bank loan was dated 09/30/21, with principal and interest @ 6% due in one year. Depreciation on the company's equipment is $10,000 for the year. Prepare an accrual based income statement for 2021. Ignore income taxes