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 $30,000 245,000 7,000 49,000 360,000 $31,000 30,000 5,000 59,000 395,000 98,000 595,000 419,000 39,000 59,000 5,000 $1,213,000 $1,213,000 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. Complete this question by entering your answers in the tabs below.