The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances:

Accounts	Debits				Credits
Cash	$	45,500
Accounts Receivable		29,700
Land		114,800
Accounts Payable						15,700
Notes Payable (due in 2 years)						34,000
Common Stock						104,000
Retained Earnings						36,300
Totals	$	190,000			$	190,000

The following is a summary of the transactions for the year:

1.		January		12		Provide services to customers on account, $66,400.
2.		February		25		Provide services to customers for cash, $77,300.
3.		March		19		Collect on accounts receivable, $46,100.
4.		April		30		Issue shares of common stock in exchange for $34,000 cash.
5.		June		16		Purchase supplies on account, $12,900.
6.		July		7		Pay on accounts payable, $11,700.
7.		September		30		Pay salaries for employee work in the current year, $68,200.
8.		November		22		Pay advertising for the current year, $22,900.
9.		December		30		Pay $3,300 cash dividends to stockholders.

The following information is available for the adjusting entries.

Accrued interest on the notes payable at year-end amounted to $2,900 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,900 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,700.

8-a. Prepare an income statement and balance sheet for the year ended December 31, 2021.