aces Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2024, appears below. December 31 is the company's fiscal year-end. Accounts Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Debits $ 14,300 Credits 9,900 0 2,400 7,600 62,000 24,000 $ 8,300 0 5,500 88,200 20,300 46,200 0 Supplies Expense Utilities Expense Totals 25,500 O 2,800 $168,500 $168,500 In addition, the company had the following year-end adjusting entries. Transaction Accounts Title Salaries Expense Salaries Payable Interest Receivable Interest Revenue Supplies Expense Debits Credits 2,300 2,300 1,000 1,000 1,500 Supplies 1,500 d. Deferred Revenue 3,500 Service Revenue 3,500 e. Rent Expense 5,600 Prepaid Rent 5,600 2. Utilities Expense 400 Utilities Payable 400 Complete this question by entering your answers in the tabs below. Req 1 and 2 and 6 Req 3 Req 4A Req 4B Req 4C Req 5 Req 7 Prepare a statement of shareholders' equity for the year ended December 31, 2024. Assume that no common stock is issued during the year. ces Balance at January 1 Dividends Balance at December 31 CRIMSON TIDE MUSIC ACADEMY Statement of Stockholders' Equity For the Year Ended December 31, 2024 Total Retained Common Stock Stockholders' Earnings Equity Prepare a classified balance sheet for the year ended December 31, 2024. Assets Current Assets: CRIMSON TIDE MUSIC ACADEMY Balance Sheet December 31, 2024 Current Liabilities: Liabilities Total Current Assets Long-term Assets: 0 Total Current Liabilities. 0 Stockholder's Equity Total long-term assets 0 Total Stockholders' Equity 0 Total Assets $ 0 Total Liabilities and Stockholders' Equity $ 0