(The following information applies to the questions displayed below) The general ledger of Jackrabbit Rentals at January 1, 2021, Includes the following account balances: Accounts Cash Accounts Receivable Land accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals Debits Credits $ 47,500 31,700 116,800 15,900 36,000 106,000 38,100 $196,000 $196,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $68,400. 2. February 25 Provide services to customers for cash, $78,300. 3. Mareh 19 Collect on accounts receivable, $46,300. 4. April 30 Issue shares of common stock in exchange for $36,000 cash. 5. June 16 Purchase supplies on account, $13,300. 6. July 7 Day on accounts payable, $11,900 7. September 30 Pay salaries for employee work in the current year, $70,200. 8. November 22 Pay advertising for the current yeary $23,100. 9. December 30 Pay $3,500 cash dividends to stockholders The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $3,100 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $2,100 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,900. 8-a. Prepare an income statement for the year ended December 31, 2021. Required information JACKRABBIT RENTALS Income Statement For the Year Ended December 31, 2021 Expenses: Total expenses 0 8-b. Prepare a classified balance sheet for the year ended December 31, 2021. JACKRABBIT RENTALS Balance Sheet December 31, 2021 Assets Liabilities Total Current Assets 0 Total Current Liabilities 0 Total liabilities 0 Stockholders' Equity 0 Total Stockholder's Equity 0 Total Liabilities and Stockholders' Equity Total Assets $ $ $ 0 Journal entry worksheet 1 2 3 > Record the entry to close the revenue accounts. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal 11. Prepare a post-closing trial balance. JACKRABBIT RENTALS Post-Closing Trial Balance December 31, 2021 Accounts Debit Credit Total