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Exercise 3-16 Prepare financial statements from an adjusted trial balance (LO3-5) [The following information applies to the questions displayed below.] The December 31, 2018, adjusted

Exercise 3-16 Prepare financial statements from an adjusted trial balance (LO3-5) [The following information applies to the questions displayed below.] The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 12,000 Accounts Receivable 150,000 Prepaid Rent 6,000 Supplies 30,000 Equipment 400,000 Accumulated Depreciation $ 135,000 Accounts Payable 12,000 Salaries Payable 11,000 Interest Payable 5,000 Notes Payable (due in two years) 40,000 Common Stock 300,000 Retained Earnings 60,000 Service Revenue 500,000 Salaries Expense 400,000 Rent Expense 20,000 Depreciation Expense 40,000 Interest Expense 5,000 Totals $ 1,063,000 $ 1,063,000 17.value: 3.57 pointsRequired information Exercise 3-16 Part 3 3. Prepare a classified balance sheet as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)

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