The adjusted trial balance of Honeybell, Inc., follows. (Click the icon to view the adjusted trial balance.) Requirement 1. Prepare Honeybell, Inc.'s single-step income statement and statement of retained earnings for the year ended December 31, 2021, and its balance sheet on that date. Let's start by completing the single step income statement. (If an input field not used in the income statement leave the field empty; do not select a label or enter a zero.) Honeybell, Inc. Income Statement Year Ended December 31, 2021 Thousands Revenues Expenses: Prepare the Honeybell, Inc. statement of retained earnings for the year ended December 31, 2021. (Include a subtotal after the "Add" line of the statement.) Add: Subtotal Less Honeybell, Inc. Statement of Retained Earnings Year Ended December 31, 2021 Thousands (C) Data table Honeybell, Inc. Adjusted Trial Balance December 31, 2021 (Amounts in thousands) Account Cash Accounts receivable Inventories Prepaid expenses Debit Credit S 4,600 1,400 2,200 1,200 Property, plant, and equipment 16,900 Accumulated depreciation-property, plant, and equipment $ 2,600 Other assets 9,300 Accounts payable Income tax payable Other liabilities 7,600 900 2,500 Common stock 14,900 Retained earnings (beginning, December 31, 2020) Dividends 5,000 1,800 Sales revenue 41,600 Cost of goods sold 25,300 Selling, administrative, and general expenses 10,000 2,400 Income tax expense Total S 75,100 $ 75,100 Print Done Prepare the Honeybell, Inc. balance sheet at December 31, 2021. First, complete the assets section of the statement. Then complete the liabilities and stockholders' equity section of the statement. (Do not classify the balance sheet into current and long-term sections. If an input field is not used in the balance sheet leave the field empty; do not select a label or enter a zero.) Calculator Honeybell, Inc. Time Remaining: 02:14:49 Next