Stanley and Jones Lawn Service Company (S&J) 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 Blows were recorded: Cash collected for: Services to customers Cash paid for: Salaries Supplies Rent $180,000) 25,000 $320,000 Insurance Miscellaneous Net operating cash flow 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 Jannary 1, 2021 December 31, 2021 Accounts receivable Prepaid insurance Supplies Accrued liabilities (for miscellaneous expenses) Jamniry 1, 2021 December 31, 2021 $32,000 $27,000 -0- 2,000 1,000 1,500 2.400 3,400 In addition, you learn that the bank loan was dated September 30, 2021, with principal and interest at 6% due in one year. Depreciation on the company's equipment is $10,000 for the year. Required: Prepare an accrual basis income statement for 2021. (Ignore income taxes.)