E4.16 (LO 4) The following items were taken from the finahcial statements of D. Gygi Company. (All amounts are in thousands.) Prepare a classified balance sheets $ 5,655 1,444 400 10,000 2,955 1,696 1,256 Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2020) o Cash Accumulated depreciation-equipment Accounts payable Notes payable (dee after 2020) Common stock Retained earnings Accounts receivable Inventory S 1,000 880 11,500 264 3,690 500 2668 Instructions Prepare a classified balance sheet in good form as of December 31, 2020. Prepare fnancial stotements E4.17 (LO 4) These financial statement items are for Norsted Company at year-end, July 31, 2020. Salaries and wages payable $ 2,080 Salaries and wages expense Utilities expense Equipment Accounts payable Service revenue Rent revenue S 1,800 14.200 9,780 Notes payable (long-term) 51,700 Cash Accounts receivable 22,600 30,400 6,000 Accumulated depreciation-equipment 3,000 4,000 21,200 4,100 Dividends Depreciation expense Retained carnings (beginning of the year) 62,000 8,500 Common stock 30,000 Instructions a. Prepare an income statement and a retained earnings statement for the year b. Prepare a classified balance sheet at July 31