These items are taken from the financial statements of Ivanhoe Ltd. at December 31, 2021: Accounts payable $22,050 Accounts receivable 21,780 Accumulated depreciationbuildings 48,600 Accumulated depreciationequipment 22,470 Buildings 137,800 Cash 23,040 Common shares 142,000 Equipment 65,100 Income tax expense 5,000 Interest expense 4,900 Interest payable 2,600 Land 201,270 Long-term investments 28,970 Mortgage payable 105,000 Operating expenses 159,680 Prepaid insurance 1,400 Retained earnings, January 1 120,520 Service revenue 187,040 Supplies 1,340 Calculate net income and the ending balance of retained earnings at December 31, 2021. Net income $enter a dollar amount 17460 Retained Earnings $enter a dollar amount 137980 eTextbook and Media List of Accounts Prepare a statement of financial position. Assume that the company will pay $31,500 of the mortgage payable in 2022. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings, and Equipment.) IVANHOELTD. Statement of Financial Position choose the accounting period For the Year Ended December 31, 2021 Assets select an opening name for subsection one Current Assets enter a balance sheet item Cash $enter a dollar amount 23,040 enter a balance sheet item Accounts Receivable enter a dollar amount 21,780 enter a balance sheet item Supplies enter a dollar amount 1,340 enter a balance sheet item Prepaid Insurance enter a dollar amount 1,400 select a closing name for subsection one Total Current Assets $enter a total amount for subsection one 47560 enter a balance sheet item Long-Term Investments enter a dollar amount 28,970 select an opening name for subsection two Property, Plant and Equipment enter a balance sheet item Buildings enter a dollar amount 137,800 enter a balance sheet item Equipment $enter a dollar amount 65,100 select between addition and deduction Less : enter a balance sheet item Accumulated Depreciation - Buildings enter a dollar amount enter a subtotal of the two previous amounts enter a balance sheet item enter a dollar amount select between addition and deduction Less : enter a balance sheet item Accumulated Depreciation - Equipment enter a dollar amount enter a subtotal of the two previous amounts select a closing name for subsection two enter a total amount for subsection two select a closing section name for this part of the statement of financial position $enter a total amount for this part of the statement of financial position Liabilities and Shareholders' Equity select an opening name for subsection one Current Liabilities enter a balance sheet item $enter a dollar amount enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount select a closing name for subsection one Total Current Liabilities $enter a total amount for subsection one of the second part of the statement of financial position enter a balance sheet item enter a dollar amount select a closing name for section one Total Liabilities enter a total amount for this section of the statement of financial position select an opening name for section two Shareholders' Equity enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount select a closing name for section two Total Shareholders' Equity enter a total of the two previous amounts select a closing name for this part of the statement of financial position Total Liabilities and Shareholders' Equity $enter a total amount for this part of the statement of financial position

Question 4 of 10 - / 11 !!! Buildings 13 Equipment $ 65,100 Less Accumulated Depreciation Buildings Less Accumulated Depreciation - Equipment Liabilities and Shareholders' Equity Current Liabilities $ Total Current Liabilities Total Liabilities Shareholders' Equity Total Shareholders' Equity Total Liabilities and Shareholders' Equity 10C ED ) ENG 1:26 PM 2022-01-23 arch O DI cho Question 4 of 10 -/11 iii Liabilities and Shareholders' Equity Current liabilities $ Total Current Liabilities Total Liabilities Shareholders' Equity 1:26 PM 10C @D) ENG TVANFOELID. Statement of Financial Position For the Year Ended December 31, 2021 Assets Current Assets Cash $ 2 Accounts Receivable 2 Supplies Prepaid Insurance Total Current Assets Long-Term Investments Property, Plant and Equipment Buildings 13 BI E 10C ~ OG D ) ENG 1:25 2022