Saved Help Save & Exit Check my Required information The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances: Credits Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Salaries Payable Common Stock Retained Earnings Totals Debits $20,000 8,000 4,000 15,000 $ 5,000 7,500 25,000 9,500 $ 47,000 $ 47,000 The following is a summary of the transactions for the year. 1. March 12 Provide services to customers, $60,000, of which $21,000 is on account. 2. May 2 Collect on accounts receivable, $18,000. 3. June 30 Issue shares of common stock in exchange for $6,000 cash. 4. August 1 Pay salaries of $7.500 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $13,000. 6. October 19 Purchase equipment for $8,000 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. 8-a. Prepare the income statement for the year ended December 31, 2021 RED STORM CLEANERS C ,000. 3. June 30 Issue shares of common stock in exchange for se 4. August 1 Pay salaries of $7,500 from 2020 (prior year). 5. September 25 Pay repairs and maintenance expenses, $13,000. 6. October 19 Purchase equipment for $8,000 cash. 7. December 30 Pay $1,100 cash dividends to stockholders. 8-a. Prepare the income statement for the year ended December 31, 2021. RED STORM CLEANERS Income Statement For the Year Ended December 31, 2021 Expenses Total expenses 0 9 esc Journal entry worksheet 9 Q 7. December 30 Pay $1,100 cash dividends to stockholders. 11. Prepare a post-closing trial balance. RED STORM CLEANERS Post-Closing Trial Balance December 31, 2021 Debit Accounts Credit ces Totals 9