Required Determine accrual basis net income for 2021. The December 31, 2021, unadpunted trial balance for the Wolkstein Drug Company is presented below December 31 is the company's year-end reporting date E 2-20 Worksheet • Appendix 2A Debits Credits Account Title Cash 20,000 Accounts receivable 35,000 Prepaid rent 5,000 Inventory 50,000 Equipment 100,000 Accumulated depreciation 30,000 25,000 Accounts payable Salaries payable -0- 100,000 Common stock Retained earnings 29,000 Sales revenue 323.000 Cost of goods sold Salaries expense Rent expense Depreciation expense Utilities expense Advertising expense Totals The following year-end adjusting entries are required a. Depreciation expense for the year on the equipment is $10,000 b. Salaries it year-end should be accrued in the amount of $4,000, Required 1. Prepare and complete a worksheet similar to Illustration 2A-11 2. Prepare an income statement for 2021 and a balance sheet as of December 31, 2021. 180,000 71,000 30,000 -0- 12,000 4,000 507,000 507,000