The following is a partial adjusted trial balance for Lester Company at year end, December 31, 2021: Debit 35,000 Credit $ $ 220,000 13,000 10,000 30,000 90,000 25,000 Accounts Receivable Mortgage Payable Retained Earnings Acc/Dep - Equipment Share Capital Bank Loan Allowance for doubtful accounts Dividends Equipment Cash Merchandise Inventory Accounts Payable Taxes Payable Land Note Receivable Acc/Dep - Building Building Prepaid Insurance 5,000 80,000 120,000 15,000 3,000 8,000 50,000 35,000 20,000 200,000 10,000 Additional information: 1. $20,000 of the mortgage payable will be paid in 2022. 2. The company plans to pay off one quarter of the bank loan in 2022. 3. The company expects half of the note receivable to be collected in 2022. Required: 1. Prepare a classified Statement of Financial Position (10 marks) 2. Calculate (show all your work) the amount of net income for 2021. (4 marks)