1 Problem 2: 10 marks (25 minutes) 2 3 Below are the unadjusted account balances for Gotham Corp as of December 31, 2021 4 5 6 7 Account 8 Accounts payable 9 Accounts receivable 10 Accumulated depreciation 11 Cash 12 Common Shares 13 Cost of goods sold 14 Equipment 15 Interest expense 16 Inventory 17 Long term investments 18 Long term loan 19 Prepaid insurance 20 Retained Earnings 21 Sales 22 Salaries expense 23 Unearned revenue 24 Unadjusted Account Balances 25 26 27 The accountant recorded the following adjusting entries at the end of the year: 28 Depreciation on the equipment 29 Salaries payable for 6 days of work 30 Interest expense 31 Insurance expense for the year 32 Income tax expense, not yet paid 33 All unearned revenue obligations were fulfilled 34 35 36 Required: Prepare a Statement of Financial Position for the year 2021. 37 38 39 Amount 3,390 77,850 20,100 73,000 135,000 194,000 155,000 7,333 29,000 80,000 200,000 33,087 25,000 309,000 49,220 6,000 15,500 3,000 4,667 19,087 2,423