Stanley and Jones Lawn Service Company (S&J) maintains its books on a cash basis. However, the company recently borrowed $110.000 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: $330, eee Cash collected for: Services to customers Cash paid for: Salaries Supplies Rent Insurance Miscellaneous Net operating cash flow $181,080 26,080 10,080 7,eee 21,080 245, eee $ 85, eee You are able to determine the following information about accounts receivable. prepaid expenses, and accrued liabilities: January 1, 2021 $33,699 Accounts receivable Prepaid insurance Supplies Accrued liabilities (for miscellaneous expenses) December 31, 2021 $27,500 2,100 1,550 1,100 2,500 3,800 In addition, you leam 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 $11,000 for the year. Required: Prepare an accrual basis income statement for 2021. (Ignore income taxes.) STANLEY AND JONES LAWN SERVICE COMPANY Income Statement For the Year Ended December 31, 2021 Accounts payable Accounts receivable Accrued liabilities Accumulated depreciation 0 Total operating expenses Operating income Other expense 0 Net income $ 0