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Boilermaker Unlimited specializes in building new homes and remodeling existing homes. Remodeling projects include adding game rooms, changing kitchen cabinets and countertops, and updating bathrooms. Below is the year-end adjusted trial balance of Boilermaker Unlimited. Credits BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Accounts Debits Cash $ 14,400 Accounts Receivable 25,600 Supplies 32,600 Prepaid Insurance 5,400 Equipment 425,000 Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Notes Payable (due in 5 years) Common Stock Retained Earnings Dividends 24,400 Service Revenue-new construction Service Revenue-remodeling Salaries Expense 144,000 Supplies Expense 269,000 Depreciation Expense 34,000 Insurance Expense 23,400 Utilities Expense 40,400 Interest Expense 6,600 Service Fee Expense 57,000 Totals $1,101,800 $ 136,000 29,400 26,400 3,400 110,000 120,000 49,600 370,000 257,000 $1,101,800 Prepare an income statement for the year ended December 31, 2021. BOILERMAKER UNLIMITED Income Statement For the Year Ended December 31, 2021 Service Revenues: Total Revenues $ 0 Expenses Total Expenses 0 Prepare the statement of stockholders' equity for the year ended December 31, 2021, note that during the year the company issued additional common stock for $14,000. This amount is included in the amount for Common Stock in the adjusted trial balance BOILERMAKER UNLIMITED Statement of Stockholders' Equity For the Year Ended December 31, 2021 Common Stock Retained Earnings Total Stockholders' Equity Balance at January 1 Balance at December 31 Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) BOILERMAKER UNLIMITED Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Assets 0 0 Total Current Liabilities Long-term Liabilities: Long-term Assets $ 0 Total Liabilities Stockholder's Equity Total Stockholders' Equity 0 Total Assets $ 0 Total Liabilities and Stockholders' Equity $ 0

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