need help with income statement and balance sheet

Required Information Exercise 2-20 (Static) Worksheet (Appendix 2A] [The following information applies to the questions displayed below.) The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Account Title Debits Credits Cash 20,000 Accounts receivable 35,000 Prepaid rent 5,000 Inventory 50,000 Equipment 100,000 Accumulated depreciation 30,000 Accounts payable 25,000 Salaries payable Common stock 100,000 Retained earnings 29,000 Sales revenue 323,000 Cost of goods sold 180,000 Salaries expense 71,000 Rent expense 30,000 Depreciation expense Utilities expense 12,000 Advertising expense 4,000 Totals 507,000 507,000 9 The following year-end adjusting entries are required: a. Depreciation expense for the year on the equipment is $10,000. b. Salaries at year-end should be accrued in the amount of $4,000. xercise 2-20 (Static) Part 2 Prepare an income statement for 2021 and a balance sheet as of December 31, 2021. Complete this question by entering your answers in the tabs below. Income Balance Sheet a. Depreciation expense for the year on the equipment is $10,000. b. Salaries at year-end should be accrued in the amount of $4,000. Exercise 2-20 (Static) Part 2 2. Prepare an income statement for 2021 and a balance sheet as of December 31, 2021. Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Prepare an income statement for 2021. WOLKSTEIN DRUG COMPANY Income Statement For the Year Ended December 31, 2021 0 Gross profit Operating expenses: 0 Total operating expenses Net income 0 Income Statement Balance Sheet Prepare a balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) WOLKSTEIN DRUG COMPANY Balance sheet At December 31, 2021 Assets Current assets: 0 Total current assets roperty and equipment: 0 Total assets S 0 Liabilities and Shareholders' Equity Current liabilities: Total current liabilities hareholders' equity: Total shareholders' equity 0 Total liabilitior andr or with