SECTION B (80 marks) Answer ALL questions from this section. QUESTION 1 (27 marks) Happy Travel Company was set up by Janet Chan two years ago. At the year end of December 31, 2021, after adjusting entries have been made, the following list of account balances is prepared: S Accumulated depreciation - equipment 27,750 Accounts payable 47,370 Wages payable 15,750 Share capital 105,000 Retained earnings 74.250 Unearned fees 38,700 Depreciation expense - equipment 5,700 Wages expense 111,150 Rent expense 270,000 Supplies expense 3,675 Fees eamed 433,500 Cash 16,575 Accounts receivable 188,670 Supplies 5.250 Prepaid rent 45,000 Equipment 69,300 Dividends 27,000 Required: (a) Prepare the Income Statement of Happy Travel Company for the year ended December 31, 2021 (7 marks) (b) Prepare the Statement of Retained Earnings of Happy Travel Company for the year ended December 31, 2021 (4 marks (c) Prepare the Statement of Financial Position of Happy Travel Company was at December 31.2021 (16 marks)