The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 3,750 8,750 2,750 21,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 5,000 3,000 4,000 15,500 8,750 $36,250 $36,250 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $12,500, and on account, $57,500. 2. March 13 Collect on accounts receivable, 545,500. 3. May 6 Issue shares of common stock in exchange for $10,000 cash. 4. June 30 Pay salaries for the current year, $31,500. 5. September 15 Pay utilities of $4,000 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $7,000. 7. December 30 Pay $1,500 cash dividends to stockholders. nor current 1020 PESOS 37,000. for $10,000 $4,000 ft year, The following information is available for the adjusting entries. Depreciation for the year on the machinery is $5,000. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $7,000 paid in advance by customers, $5,500 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,500. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjus will appear for each account, based on your selection. Post-closing Pipers Plumbing Income Statement For the Year Ended December Revenues: c O Total Revenues Expenses: - 1 1 . . . TTTT Total expenses Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separa balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Post-closing Pipers Plumbing Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Liabilities Stockholder's Equity Total Current Assets Long-term Assets: 0 Total Stockholder's Equity Total Liabilities and Stockholders' Equity Total Assets