The following account balances were taken from ABC Company’s accounting records at December 31, 2021: Accounts Payable ............ $69,000 Accounts Receivable ......... $56,000 Advertising Expense ......... $13,000 Building .................... $83,000 Cash ........................ $11,000 Common Stock ................ $87,000 Cost of Goods Sold .......... $30,000 Dividends ................... $19,000 Equipment ................... $86,000 Income Tax Expense .......... $17,000 Interest Expense ............ $11,000 Inventory ................... $54,000 Loss on Sale of Land ........ $15,000 Notes Payable ............... $96,000 Rental Revenue .............. $62,000 Retained Earnings ........... $60,000 (at January 1, 2021) Salaries Expense ............ $25,000 Sales Revenue ............... $98,000 Trademark ................... $55,000 Unearned Revenue ............ $46,000 Utilities Expense ........... $22,000 Utilities Payable ........... $20,000 ABC Company has not yet recorded year-end adjusting entries related to the following two items: (1) Salaries earned by employees which have not yet been paid by ABC Company totaled $15,000. (2) The unearned revenue relates to a $64,000 payment from a customer received on August 1, 2021 for work that was to be performed each month for the next 20 months. 1.Calculate the total liabilities reported in ABC Company's balance sheet at December 31, 2021 after all appropriate adjusting entries have been recorded and posted 2.Calculate the net income reported by ABD Company for 2021 after all appropriate adjusting entries have been recorded and posted. Answer