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oilermaker Unlimited specializes in building new homes and remodeling existing homes

Finance

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oilermaker Unlimited specializes in building new homes and remodeling existing homes. Remodeling projects include adding game rooms, changing kitchen cabinets and countertops, and updating bathrooms. Below is the year-end adjusted trial balance of Boilermaker Unlimited.

BOILERMAKER UNLIMITEDAdjusted Trial BalanceDecember 31, 2021AccountsDebits CreditsCash$14,900     Accounts Receivable 25,100     Supplies 32,100     Prepaid Insurance 5,900     Equipment 487,500     Accumulated Depreciation    $156,000 Accounts Payable     29,900 Salaries Payable     26,900 Utilities Payable     3,900 Notes Payable (due in 5 years)     110,000 Common Stock     145,000 Retained Earnings     38,100 Dividends 24,900     Service Revenue—new construction     395,000 Service Revenue—remodeling     281,000 Salaries Expense 149,000     Supplies Expense 274,000     Depreciation Expense 39,000     Insurance Expense 23,900     Utilities Expense 40,900     Interest Expense 6,600     Service Fee Expense 62,000     Totals$1,185,800  $1,185,800 

Required:

1. Prepare an income statement for the year ended December 31, 2021.
2. Prepare the statement of stockholders' equity for the year ended December 31, 2021, note that during the year the company issued additional common stock for $19,000. This amount is included in the amount for Common Stock in the adjusted trial balance.
3. Prepare the classified balance sheet for the year ended December 31, 2021.