The adjusted trial balance of Monona Inc. as of December 31, 2020, follows. Adjusted Trial Balance December 31, 2020 Acct. No. Account Debit Credit 100 Cash $36,000 $ 104 Accounts receivable 70,000 105 Allowance for doubtful accounts 3,550 106 Inventory 80,000 108 Prepaid insurance 4,800 150 Land 11,450 155 Building 200,000 156 Equipment 60,000 162 Accumulated depreciation 12,500 202 Accounts payable 75,000 204 Salaries payable 4,500 208 Deferred service revenue 2,000 210 Interest payable 500 240 Note payable 150,000 302 Common stock 185,000 304 Retained earnings 12,000 310 Dividends 5,000 400 Sales revenue 500,000 402 Service revenue 25,000 510 Costs of goods sold 240,000 512 Salaries expense 230,000 520 Repair expense 2,000 526 Insurance expense 3,600 528 Depreciation expense 13,200 540 Interest expense 12,000 542 Bad debt expense 2,000 Totals $970,050 $970,050 a. Prepare the income statement for the year ended December 31, 2020. b. Prepare the statement of stockholders' equity for the year ended December 31, 2020. Assume that the common stock was issued prior to 2020. C. Prepare the balance sheet on December 31, 2020 Income Statement Statement of Stockholders' Equity Balance Sheet a. Prepare the income statement for the year ended December 31, 2020. Note: Enter revenues and expenses in the order of the largest dollar amount to the smallest dollar amount. Note: Do not use negative signs with any of your answers. Monona Inc. Income Statement For the Year Ended December 31, 2020 Revenues $ 0 0 Total revenues $ 0 Expenses . O O O O O O O Bad debt expense Total expenses 0 $ 0 Please answer all parts of the question. b. Prepare the statement of stockholders' equity for the year ended December 31, 2020. Assume that the common stock was issued prior to 2020. Note: Do not use negative signs with any of your answers. Monona Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2020 Total Common Retained Stockholders' Stock Earnings Equity Balance, January 1, 2020 $ 0 $ 0 $ 0 Issuance of common stock 0 0 0 0 0 0 Less: Dividends 0 0 0 Balance, December 31, 2020 $ 0 $ 0 $ 0 Please answer all parts of the question. C. Prepare the balance sheet on December 31, 2020 Note: Do not use negative signs with any of your answers. Monona Inc. Balance Sheet December 31, 2020 Assets Cash $ 0 $ 0 0 0 Less: Allowance for doubtful accounts Inventory 0 0 Land 0 Building 0 0 Less: Accumulated depreciation 0 0 Total assets TA 0 Liabilities Accounts payable Salaries payable $ 0 0 0 0 o Interest payable Notes payable Total liabilities Stockholders' Equity Common stock o 0 0 0 Total stockholders' equity Total liabilities and stockholders' equity $ o Please answer all parts of the