Good to auto products distributes automoblie parts to service stations and repair shops the adjusted trial balance data that follows ia from worksheets for the year ended december $3120$x$1$ Requlred:

Prepare a classified income statement for the year ended December $31,20$x$1.$ The operating expense accounts represent

warehouse expenses, selling expenses, and general and administrative expenses. Please note that the January $1$ Merchandise

Inventory balance Is located in the debit column of the Income Summary account on the adjusted trial balance.

Prepare a statement of owner's equity for the year ended December $31,201.$ No additional investments were made during the

year.

Prepare a classified balance sheet as of December $31,20$X$1.$ The mortgage payable extends for more than one year.

Analyze:

What percentage of total operating expenses is attributable to warehouse expenses?