a. 1. (1/148) Use the following adjusted trial balance of Sierra Company to prepare its income statement. b. statement of owner's equity for the year ended December 31. c. Use the information in the adjusted trial balance to prepare Sierra Company's "classified" balance sheet as of December 31. The H. Sierra, Capital account balance was $10,500 on December 31 of the prior year. Credit Debit $5,000 500 4,000 20,000 Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) H. Sierra, Capital H. Sierra, Withdrawals Consulting revenue Wages expense Depreciation expense--Buildings Insurance expense Totals $12.000 2,500 3,000 10,500 1,000 9,500 3,500 2,000 1,500 $37,500 $37,500