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The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 10,500 Accounts Receivable 135,000 Prepaid
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 10,500 Accounts Receivable 135,000 Prepaid Rent 4,500 Supplies 22,500 Equipment 250,000 Accumulated Depreciation $120,000 Accounts Payable 10,500 Salaries Payable 9,500 Interest Payable 3,500 Notes Payable (due in two years) 25,000 Common Stock 150,000 Retained Earnings 45,000 Service Revenue 350,000 Salaries Expense 250,000 Rent Expense 12,500 Depreciation Expense 25,000 Interest Expense 3,500 Totals $713,500 $713,500 Required: 1. Prepare an income statement for the year ended December 31, 2021. FIGHTIN' BLUE HENS CORPORATION Income Statement For the Year Ended December 31, 2021 Expenses: Total expenses
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