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The following account balances were taken from the 2021 adjusted trial balance of the Bowler Corporation: sales revenue, $455,000; cost of goods sold, $233,000; salaries
The following account balances were taken from the 2021 adjusted trial balance of the Bowler Corporation: sales revenue, $455,000; cost of goods sold, $233,000; salaries expense, $58,000; rent expense, $33,000; depreciation expense, $43,000; and miscellaneous expense, $25,000. Prepare an income statement for 2021. BOWLER CORPORATION Income Statement For the Year Ended December 31, 2021 0 0 Net income $ $ 0 The following account balances were taken from the 2021 post-closing trial balance of the Bowler Corporation: cash, $6,000; accounts receivable, $11,000; inventory, $18,000; equipment, $120,000; accumulated depreciation, $44,000; accounts payable, $34,000; salaries payable, $14,000; retained earnings, $11,000; and common stock, $52,000. Prepare a 12/31/2021 balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Balance Sheet At December 31, 2021 Assets $ Current assets Cash Accounts receivable Inventory 6,000 11,000 18,000 35,000 35,000 Liabilities and Shareholders' Equity 0 0 $ 0
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