Stylistic Motors, Inc., was formed on January 1, 2021. The following transactions occurred during 2021: (i) (Click the icon to vied the transactions) Read the regurements. Requirement 1. Prepare Sylisters income statement for the year ended December 31, 2021. Use the single-step format, wath all revenues listod sogether and al expenses togecter. On January 1, 2021, Stylistic issued its common stock for $510,000. Early in January, Stylistic made the following cash payments: a. $220,000 for equipment b. $243,000 for inventory (nine cars at $27,000 each) c. $25,000 for 2021 rent on a store building In February, Stylistic purchased three cars for inventory on account. The cost of this inventory was $117,000 ( $39,000 per car). Before year-end, the company paid off $35,100 of this debt. The company uses the first-in, first-out (FIFO) method to account for its inventory. During 2021, Stylistic sold eleven autos for a total of $649,000. Before year-end, it had collected 50% of this amount. The business employs two people. The combined annual payroli is $151,000, of which Stylistic owes $9,000 at year-end. At the end of the year, the company paid income taxes of $22,000. Late in 2021, Stylistic declared and paid cash dividends of $16,000. For equipment, Stylistic uses the straight-line depreciation method, over five years, with zero residual value. Requirements 1. Prepare Stylistic's income statement for the year ended December 31, 2021. Use the single-step format, with all revenues listed together and all expenses together. 2. Prepare Stylistic's balance sheet at December 31, 2021. 3. Prepare Stylistic's statement of cash flows for the year ended December 31, 2021. Format cash flows from operating activities using the indirect method. Stylistic Motors, Inc, was formod on Jaruary 1, 2021. The following transactions occurred during 2021: (i) (Click the icon to veew the transactions) Read the regairements. Requirement 1. Prepare Stylistic's income statement for the year ended Docember 31, 2021. Use the single-step format, weh al covenues listed together and all nxpenses together. Stylistic Motors, inc., was formed on January 1, 2021. The following transactions occurred during 2021: (i) (Click the icon to vew the transactions.) Read the reovirements. Requirement 2. Prepare Stylists balance sheet at December 31, 2021. Stylistic Motors, Inc., was formed on January 1, 2021. The following transoctions occurred during 2021: (i) (Click the icon to view the iransactions.) Read the teguirements. Requirement 2. Prepare Stylistic's balance sheet ot December 31, 2021. Styfistie Motors, lnc., was formed on January 1, 2021. The following transactions cocurred during 2021: (1) (Click the icon to view the transictions.) Read the teckitements. Requirement 3. Prepare Stylisuc's statement of cash flows for the year ended December 31, 2021. Format cash flows from operating activities using the indirect mechod. (Use parentheses or a minus sign for numbers to bo subtracted and for a net decrease in cash. Enter "o" for zero balancesi) Stylistic Motors, Inc. Sylistic Motors, inc, was formed on January 1, 2021. The following transactions ccoured during 2021: (C) (Cick the icon to view the transactions.) Read the requirments. Requirement 3. Prepare Styistic's statement of cash flows for the year ended Decomber 31, 2021. Fermat cash fows from operating activities uting the indirect method (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in canh, Entor "Oot tor zaro balanoes.) StyGttic Molors, Inc, was formed on January 1, 2021. The following transactons cocurred during 2021: (i) (Cick the icon to view the transactions) Stytistic Motors, Inc., was formed on January 1, 2021. The following transoctons occurted during 2021: (1) (Cick the icon to view the transactions.) Stylistic Motors, Inc, was formed on January 1, 2021. The following transactions occurted during 2021: (i) (Click the icon to viow the transactions.) Read the requinoments. Stylistic Motors, Inc., was formed on January 1, 2021. The following transactions occurred during 2021: (i) (Click the icon to vied the transactions) Read the regurements. Requirement 1. Prepare Sylisters income statement for the year ended December 31, 2021. Use the single-step format, wath all revenues listod sogether and al expenses togecter. On January 1, 2021, Stylistic issued its common stock for $510,000. Early in January, Stylistic made the following cash payments: a. $220,000 for equipment b. $243,000 for inventory (nine cars at $27,000 each) c. $25,000 for 2021 rent on a store building In February, Stylistic purchased three cars for inventory on account. The cost of this inventory was $117,000 ( $39,000 per car). Before year-end, the company paid off $35,100 of this debt. The company uses the first-in, first-out (FIFO) method to account for its inventory. During 2021, Stylistic sold eleven autos for a total of $649,000. Before year-end, it had collected 50% of this amount. The business employs two people. The combined annual payroli is $151,000, of which Stylistic owes $9,000 at year-end. At the end of the year, the company paid income taxes of $22,000. Late in 2021, Stylistic declared and paid cash dividends of $16,000. For equipment, Stylistic uses the straight-line depreciation method, over five years, with zero residual value. Requirements 1. Prepare Stylistic's income statement for the year ended December 31, 2021. Use the single-step format, with all revenues listed together and all expenses together. 2. Prepare Stylistic's balance sheet at December 31, 2021. 3. Prepare Stylistic's statement of cash flows for the year ended December 31, 2021. Format cash flows from operating activities using the indirect method. Stylistic Motors, Inc, was formod on Jaruary 1, 2021. The following transactions occurred during 2021: (i) (Click the icon to veew the transactions) Read the regairements. Requirement 1. Prepare Stylistic's income statement for the year ended Docember 31, 2021. Use the single-step format, weh al covenues listed together and all nxpenses together. Stylistic Motors, inc., was formed on January 1, 2021. The following transactions occurred during 2021: (i) (Click the icon to vew the transactions.) Read the reovirements. Requirement 2. Prepare Stylists balance sheet at December 31, 2021. Stylistic Motors, Inc., was formed on January 1, 2021. The following transoctions occurred during 2021: (i) (Click the icon to view the iransactions.) Read the teguirements. Requirement 2. Prepare Stylistic's balance sheet ot December 31, 2021. Styfistie Motors, lnc., was formed on January 1, 2021. The following transactions cocurred during 2021: (1) (Click the icon to view the transictions.) Read the teckitements. Requirement 3. Prepare Stylisuc's statement of cash flows for the year ended December 31, 2021. Format cash flows from operating activities using the indirect mechod. (Use parentheses or a minus sign for numbers to bo subtracted and for a net decrease in cash. Enter "o" for zero balancesi) Stylistic Motors, Inc. Sylistic Motors, inc, was formed on January 1, 2021. The following transactions ccoured during 2021: (C) (Cick the icon to view the transactions.) Read the requirments. Requirement 3. Prepare Styistic's statement of cash flows for the year ended Decomber 31, 2021. Fermat cash fows from operating activities uting the indirect method (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in canh, Entor "Oot tor zaro balanoes.) StyGttic Molors, Inc, was formed on January 1, 2021. The following transactons cocurred during 2021: (i) (Cick the icon to view the transactions) Stytistic Motors, Inc., was formed on January 1, 2021. The following transoctons occurted during 2021: (1) (Cick the icon to view the transactions.) Stylistic Motors, Inc, was formed on January 1, 2021. The following transactions occurted during 2021: (i) (Click the icon to viow the transactions.) Read the requinoments