Glent Company prepared the following adjusted trial balance at its year-end of December 31, 2019. The company is owned by Wayne Glent. Glent Company Trial Balance December 31, 2019 Account Titles DR $14,600 CR Cash Accounts Receivable $6,200 Merchandise Inventory $6,500 Prepaid Expenses $1,800 Store Equipment $40,200 Accumulated Depreciation Equipment $2,700 Accounts Payable $6,800 Unearned Revenue $5,800 Bank Loan $18,000 Glent, Capital $33,070 Glent, Withdrawals $1,200 Sales Revenue $51,430 Gain on Sale of Equipment $4,100 Cost of Goods Sold $18,300 Advertising Expense $1,400 Depreciation Expense-Equipment $2,700 Interest Expense $600 Office Salaries Expense $4,100 Rent Expense-Retail Space $10,700 Rent Expense-Office Space $5,100 Sales Salaries Expense $8,500 Total $121,900 $121,900 Notes: Assume the balance of owner's equity is the opening balance. The bank loan is payable over 10 years in equal annual installments. a) Prepare a multi-step income statement. Do not enter dollar signs or commas in the input boxes. Enter the accounts into the appropriate statements in the order they are presented on the trial balance. Do not use negative signs. Glent Company Income Statement For the Year Ended December 31, 2019 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses $ $ $ $ Total Selling Expenses Administrative Expenses $ $ Total Administrative Expenses Total Operating Expenses Income from Operations Other Income and Expenses Net Income b) Prepare a statement of owner's equity. Glent Company Statement of Owner's Equity For the Year Ended December 31, 2019 Glent, Capital (Beginning) $ Add: Net Income $ Less: Glent, Withdrawals $ Subtotal $ Glent, Capital, December 31, 2019 $ c) Prepare a classified balance sheet. Glent Company Balance Sheet As at December 31, 2019 Assets Current Assets $ $ $ Total Current Assets Property, Plant, and Equipment $ Total Property, plant, and Equipment Total Assets Liabilities Current Liabilities $ $ $ Total Current Liabilities Long-Term Liabilities Total Long-Term Liabilities Total Liabilities Owner's Equity Total Owner's Equity Total Liabilities and Owner's Equity