$510,000 Cash collected for: Services to customers Cash paid for: Salaries Supplies Rent Insurance Miscellaneous Net operating cash flow $199,000 44,000 28,000 11,000 39,000 321,000 $189,000 You are able to determine the following information about accounts receivable, prepaid expense January 1, 2021 $40,000 Accounts receivable Prepaid insurance Supplies Accrued liabilities (for miscellaneous expenses) 2,900 December 31, 2021 $31,000 3,988 3,500 6,600 4,300 rences In addition, you learn that the bank loan was dated September 30, 2021, with principal and intere on the company's equipment is $18,000 for the year. Required: Prepare an accrual basis income statement for 2021. (Ignore income taxes.) STANLEY AND JONES LAWN SERVICE COMPANY Income Statement For the Year Ended December 31, 2021 Sales revenue Operating expenses: Salaries expense Supplies expense Rent expense r Miscellaneous expense Depreciation expense Total operating expenses Operating income Other expense: Interest expense Net income Prey 8 of 11 Next > $510,000 Cash collected for: Services to customers Cash paid for: Salaries Supplies Rent Insurance Miscellaneous Net operating cash flow $199,000 44,000 28,000 11,000 39,000 321,000 $189,000 You are able to determine the following information about accounts receivable, prepaid expense January 1, 2021 $40,000 Accounts receivable Prepaid insurance Supplies Accrued liabilities (for miscellaneous expenses) 2,900 December 31, 2021 $31,000 3,988 3,500 6,600 4,300 rences In addition, you learn that the bank loan was dated September 30, 2021, with principal and intere on the company's equipment is $18,000 for the year. Required: Prepare an accrual basis income statement for 2021. (Ignore income taxes.) STANLEY AND JONES LAWN SERVICE COMPANY Income Statement For the Year Ended December 31, 2021 Sales revenue Operating expenses: Salaries expense Supplies expense Rent expense r Miscellaneous expense Depreciation expense Total operating expenses Operating income Other expense: Interest expense Net income Prey 8 of 11 Next >