1. Complete the worksheet below.2-a. Use the information in the worksheet to help me make

an income statement for 2021.2-b. Use the information in the worksheet to help me make and better undertand

statement of shareholders' equity for 2021.2-c. Use the information in the worksheet to help me make and understand

balance sheet as of December 31, 2021.3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Req 1 Req 2A Req 2B Req 2C Req 3EXCALIBUR CORPORATIONStatement of Shareholders' EquityFor the Year Ended December 31, 2021Common StockRetained EarningsTotal Shareholders equity

# 3 Saved Help Account Title Cash Debits Credits Accounts receivable 74, 810 Supplies 26, 000 Prepaid rent Inventory Office equipment 63, 000 points 79, 000 Accumulated depreciation 10, 270 Accounts payable 33, 200 Salaries payable 4, 400 Notes payable 30 , 600 Common stock 110, 000 eBook Retained earnings 18, 600 Dividends 8, 250 Sales revenue 245, 000 Cost of goods sold 127, 500 Print Interest expense 0 Salaries expense 49, 150 Rent expense 16, 400 Supplies expense 2, 160 Utility expense 5,800 References Totals 452, 070 452, 070 Information necessary to prepare the year-end adjusting entries appears below. 1. The office equipment was purchased in 2019 and is being depreciated using the straight-line method over an eight-year useful life with no salvage value. 2. Accrued salaries at year-end should be $6,600. 3. The company borrowed $30,600 on September 1, 2021. The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 10%. 4. The company debits supplies expense when supplies are purchased. Supplies on hand at year-end cost $540. 5. Prepaid rent at year-end should be $1,200. 1. Complete the worksheet below. 2-a. Use the information in the worksheet to prepare an income statement for 2021. 2-b. Use the information in the worksheet to prepare a statement of shareholders' equity for 2021. 2-c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2021. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts