362 Chapter I4 Merchandiser's Financial statements and the Closing Process Exercise 14-4 Based on the post-closing trial balance shown below, prepare a classified balance sheet for J-Mart as of Preparing classified balance sheets December 31. Net income for 2010 was $63,700. LOMi -MART Post-Closing Trial Balance December 31 Debit Credit 18,200 Accounts receivable 34,200 Supplies 2.100 Merchandise inventory 25,000 Delivery equipment 45,000 Accumulated depreciation delivery equipment 11.080 Intangible assets 16.000 Accounts payable Wages payable 4,120 Long-term notes payable Emily Jacobs, Capital 89,100 40,500 40 500 $2,000 of the long-Herm note payable is due during the next year. JK Products reports the following adjusted trial balance at December 31, 2010, the end of its first y operations. Prepare a multiple-step income statement for the year ending D Exercise 14-5 the multiple-step