Exercise 3-16 (Algo) Prepare financial statements from an adjusted trial balance (LO3-5) The December 31, 2024, adjusted trial balance for Badger Corporation is presented below. Accounts Cash Accounts Receivable Prepaid Rent Supplies Land Accounts Payable: Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense. Rent Expense Utilities Expense Interest Expense Totals Required: Debit Credit $17,000 170,000 5,000 34,000 285,000 $16,000 15,000 7,000 44,000 320,000 68,000 520,000 404,000 24,000 44,000 7,000 $990,000 $990,000 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during 2024. 3. Prepare a classified balance sheet as of December 31, 2024. Income Statement Stmt of Stockholders Balance Sheet Equity Prepare an income statement for the year ended December 31, 2024. Expenses: BADGER CORPORATION Income Statement For the Year Ended December 31, 2024 Total expenses ncome Statement Stmt of Stockholders Equity > Complete this question by entering your answers in the tabs below. Income Statement Stmt of Stockholders Balance Sheet Equity Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during 2024. BADGER CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2024 Common Stock Retained Earnings Total Stockholders' Equity Balance at January 1 Balance at December 31 Stmt of Income Statement Stockholders Balance Sheet Equity Prepare a classified balance sheet as of December 31, 2024. Assets Current assets: BADGER CORPORATION Balance Sheet December 31, 2024 Current liabilities: Total current assets Total current liabilities. Long-term liabilities: Long-term assets: Total long-term assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders Equity Balance Sheet > < Stmt of Stockholders Equity