[The following information applies to the questions displayed below.]

On January 1, 2021, Red Flash Photography had the following balances: Cash, $12,000; Supplies, $8,000; Land, $60,000; Deferred Revenue, $5,000; Common Stock $50,000; and Retained Earnings, $25,000. During 2021, the company had the following transactions:

1.		February		15		Issue additional shares of common stock, $20,000.
2.		May		20		Provide services to customers for cash, $35,000, and on account, $30,000.
3.		August		31		Pay salaries to employees for work in 2021, $23,000.
4.		October		1		Purchase rental space for one year, $12,000.
5.		November		17		Purchase supplies on account, $22,000.
6.		December		30		Pay dividends, $2,000.

The following information is available on December 31, 2021:

1. Employees are owed an additional $4,000 in salaries.
2. Three months of the rental space has expired.
3. Supplies of $5,000 remain on hand.
4. All of the services associated with the beginning deferred revenue have been performed.

4. Prepare an income statement, statement of stockholders equity, and classified balance sheet.