13 9 Required information Problem 3-8A Complete the full accounting cycle (LO3-3,3-4, 3-5, 3-6, 3-7) The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Part 5 of 8 10 points DebitsCredits Canh Accounts Receivable Supplies Equipnent Accumulated Depreciation Salaries Payable Common Stock Retained Earnings $20,000 8,000 4,000 15,000 eBook Print References 5,000 7,500 25,000 9,500 Totals 47,000 $47,000 The following is a summary of the transactions for the year: 1. March 12Provide services to eustomers, 60,000, of which $21,000 ia on account. 2. Hay , June 4. Auguat 1 Pay salaries of $7,500 from 2020 (prior year). s. Septenber 25 Pay repaira and maintenance expenses, $13,000 6. October 19 Purchase equi pment for $8,000 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. 2 Colleet on accounte receivable, $18,000. 30 Issue shares of comnon atock in exchange for $6,000 oash. Problem 3-8A Part8 Required information Part 5 of 8 8-b. Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) 10 points RED STORM CLEANERS Balance Sheet eBook Assets Liabilities Print Current Assets: Current Liabilities: Cash Accounts Receivable Supplies Salaries Payable Stockholders' Equity Total Current Assets r Common Stock Long-term Assets Retained Earnings Total Stockholders' Equity 0 Total Liabilities and Stockholders' Equity Total Assets