1. The following are the account balances for Ariel's Treasures Limited for the year ended April 30, 2020: Sales Cash Accounts payable Income taxes payable Cost of goods sold Accumulated depreciation - building Supplies Advertising expense Common shares Income tax expense Inventory Salary expense Retained earnings, beginning Supplies expense Accounts receivable Building Note payable, long term Rent expense Dividends Depreciation expense $610,000 22,000 76,000 12,000 275,000 12,500 1,800 15,000 5,000 12.000 98,000 198,000 53,800 22,000 54,000 118,000 86,000 12,000 25,000 2.500 Required: Prepare the income statement and statement of retained earnings for the year ending April 30, 2020 and classified balance sheet on that date for Ariel's Treasures Limited