Prepare the end-of-year financial reports for 2021-2022. 

Transactions: Date Transaction 1/7/2021 Initial capital investment of $250,000 3/7/2021 Purchased inventory for $15,000 5/7/2021 Hire 2 contractors; their contract salaries are $45,000 each per year. This is to be paid in advance upon hiring. 7/8/2021 Purchase office supplies for $10,000 9/9/2021 Purchase furniture for $10,000 11/9/2021 Purchase computer equipment for $9,000 13/10/2021 Invest $8,000 in marketing activities for the year 30/6/2022 Revenue for the year is $150,000

Answer rating: 100% (QA)

Income Statement Revenue150000 Expenses Inventory Purchase15000 Contractor Sala... View the full answer