Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) [The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 11,700 147,000 5,700 28,500 370,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $132,000 11,700 10,700 4,700 37,000 270,000 57,000 470,000 370,000 18,500 37,000 4,700 $993, 100 $993, 100 Required: 1. Prepare an income statement for the year ended December 31, 2021. FIGHTIN' BLUE HENS CORPORATION Income Statement For the Year Ended December 31, 2021 Expenses: 0 Total expenses 2. Prepare a statement of stockholders' equity for the year ended December 31, 2021, assuming no common stock was issued during 2021. FIGHTIN' BLUE HENS CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2021 Common Retained Stock Earnings Total Stockholders' Equity Balance at January 1 Less: Dividends Balance at December 31 Balance Sheet December 31, 2021 Assets Liabilities Current assets: Current liabilities: Total current assets 0 Total current liabilities 0 Total liabilities 0 Stockholders' Equity Long-term assets: 0 Total long-term assets 0 Total stockholders' equity 0 Total liabilities and stockholders' equity $ 0 Total assets