Good to Go Auto Products distributes automobile parts to service stations and repair shops. The adjusted trial balance data that follows is from the firm's worksheet for the year ended December 31, 20X1. Accounts Cash Petty Cash Fund Notes Receivable, due 2ex2 Accounts Receivable Allowance for Doubtful Accounts Interest Receivable Merchandise Inventory Warehouse Supplies Office Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation Warehouse Equipment Office Equipment Accumulated Depreciation Office Equipment Notes Payable, due 28x2 Accounts Payable Interest Payable Notes Payable, Long-Term Mortgage Payable Colin O'Brien, Capital (Jan. 1) Colin O'Brien, Drawing Income Summary Sales Sales Returns and Allowances Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies Expense Depreciation Expense-Warehouse Equipment Salaries Expense-Sales Travel Expense Delivery Expense Salaries Expense-Office Office Supplies Expense Insurance Expense Utilities Expense Telephone Expense Payroll Taxes Expense Building Repairs Expense Property Taxes Expense Uncollectible Accounts Expense Depreciation Expense-Building Depreciation Expense-Office Equipment Interest Expense Totals Debit Credit $ 98,900 See 14,500 148,188 $ 3,700 145 128,480 3,280 690 4,540 15,988 186,500 16,650 19,700 9,450 9,380 3,850 14,980 56,880 390 16,500 19.500 325,795 70,55 131,300 128,40e 1,108,300 8,300 57e 462,eee 9,700 13,550 9.140 188,50 5,700 3,300 151,600 23,900 37,325 84,900 1,210 9,775 7.900 3.270 31,500 3,600 16, 380 3,480 5,500 1,618 3,988 $1,727,495 $1,727,495 Required: 1. Prepare a classified Income statement for the year ended December 31, 20X1. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2 Prepare a statement of owner's equity for the year ended December 31, 20X1. No additional Investments were made during the year. 3. Prepare a classified balance sheet as of December 31, 20X1. The mortgage payable extends for more than one year. Analyze: What percentage of total operating expenses is attributable to warehouse expenses? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a classified income statement for the year ended December 31, 20X1. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. Ann TAO ALITO DDONICTE expenses, selling expenses, and general and administrative expenses. GOOD TO GO AUTO PRODUCTS Income Statement Operating revenue Net sales Cost of goods sold Merchandise inventory, January 1, 20X1 Delivered cost of purchases S 0 0 Net delivered cost of purchases Total merchandise available for sale 0 0 S olo 0 0 S Gross profit on sales Operating expenses Warehouse expenses S 0 Total Warehouse expenses Selling expenses S 0 Total selling expenses General and administrative expenses S 0 0 Total general and administrative expenses Total operating expenses Income from operations Other income Olo S 0 Other expenses S Net nonoperating expenses Net income for year TOO 0 S 0 Required: 1. Prepare a classified Income statement for the year ended December 31, 20X1. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31, 20X1. No additional investments were made during the 3. Prepare a classified balance sheet as of December 31, 20X1. The mortgage payable extends for more than one year. year. a Analyze: what percentage of total operating expenses is attributable to warehouse expenses? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a statement of owner's equity for the year ended December 31, 20X1. No additional investments were made during the year. GOOD TO GO AUTO PRODUCTS Statement of Owner's Equity $ Analyze: What percentage of total operating expenses is attributable to warehouse expenses? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a classified balance sheet as of December 31, 20X1. The mortgage payable extends for more than one year. GOOD TO GO AUTO PRODUCTS Balance Sheet Assets Current assets Prepaid expenses 0 0 Total current assets $ Plant and equipment Building Warehouse equipment Office equipment 0 0 $ Total plant and egipment Total assets Liability and Owner's Equity Current liabilities $ 0 Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities Owner's equity 0 0 $ Total liabilities and owner's equity $ 0 Required: 1. Prepare a classified Income statement for the year ended December 31, 20X1. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2 Prepare a statement of owner's equity for the year ended December 31, 20X1. No additional investments were made during the year. 3. Prepare a classified balance sheet as of December 31, 20X1. The mortgage payable extends for more than one year. Analyze: What percentage of total operating expenses is attributable to warehouse expenses? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze What percentage of total operating expenses is attributable to warehouse expenses? (Round your answer to 2 decimal places.) The percentage attributable to warehouse expense is