The assets and liabilities of Post Oak Garden Supply, Inc., as of December 31, 2021, and revenues and expenses for the year ended on that date are as follows: (Click the icon to view the account totals.) Read the requirements Requirement 1. Prepare the income statement of Post Oak Garden Supply, Inc., for the year ended December 31, 2021. Let's begin the heading and then complete the rest of the statement. (If an input field is not used in the financial statements leave the field empty; do not select a label or enter a zero. Use parentheses or a minus sign to enter a net loss.) Data table Equipment $ 117,000 Land Interest expense 10,500 Note payable $ 24,000 99,200 Property tax Interest payable 2,600 expense 7,700 Accounts payable 30,000 Rent expense 40,800 Salary expense 108,100 Accounts receivable 84,000 Building 407,000 Service revenue 458,600 Cash 49,000 Supplies 6,500 Common stock 7,700 Utilities expense 8,000 Beginning retained earnings was $364,500, and dividends declared and naid totaled $100 000 for the vear Print Done Requirements 1. Prepare the income statement of Post Oak Garden Supply, Inc., for the year ended December 31, 2021. Prepare the company's statement of retained earnings for the year. 3. Prepare the company's balance sheet as of December 31, 2021. 4. Analyze Post Oak Garden Supply, Inc., by answering these questions: Was Post Oak profitable during 2021? By how much? a. b. C. Did retained earnings increase or decrease? By how much? Which is greater, total liabilities or total stockholders' equity? Who has a greater claim to Post Oak's assets: its creditors or its stockholders? Print Done Requirement 4. Analyze Post Oak Garden Supply, Inc., by answering these questions: a. Was Post Oak profitable during 2021? By how much? Result of operations: of b. Did retained earnings increase or decrease? By how much? Retained earnings by b. Did retained earnings increase or decrease? By how much? Retained earnings c. Which is greater, total liabilities or total stockholders' equity? Who has a greater claim to Post Oak's assets: its creditors or its stockholders? Post Oak's assets. exceeds by own more of