Halliwell Company prepared the following adjusted trial balance at its year-end of August 31, 2018. The company is owned by Judas Halliwell. CR Halliwell Company Adjusted Trial Balance August 31, 2018 Account Titles DR Cash $14,200 Accounts Receivable $5,700 Merchandise Inventory $6,500 Prepaid Expenses $2,300 Store Equipment $40,500 Accumulated Depreciation - Equipment $2,300 Accounts Payable $6,400 Unearned Revenue $6,000 Notes Payable $9,000 Halliwell, Capital $43,600 Halliwell, Drawings $2,000 Sales Revenue $52,700 Gain on Sale of Equipment $4,900 Cost of Goods Sold $20,000 Depreciation Expense - Equipment $2,300 Interest Expense $600 Advertising Expense $1,500 Rent Expense - Retail Space $10,900 Rent Expense - Office Space $5,300 Sales Salaries Expense $9,000 Office Salaries Expense $4,100 Total $124,900 $124,900 Notes: Assume the balance of owner's equity is the opening balance. The note payable is payable over 9 years in equal annual installments. Income Statement For the Year Ended August 31, 2018 Sales Revenue Cost of Goods Sold s $ $ Gross Profit Operating Expenses Selling Expenses . $ TA 4 $ . $ Total Selling Expenses Administrative Expenses 4 $ $ Total Administrative Expenses Total Operating Expenses income from Operations Other Income and Expenses . . $ Net Income Halliwell Company Statement of Owner's Equity For the Year Ended August 31, 2018 Halliwell, Capital (Beginning) Add: Net Income Less: Halliwell, Drawings Subtotal $ Halliwell, Capital, August 31, 2018 $ c) Prepare a classified balance sheet. Halliwell Company Balance Sheet As at August 31, 2018 Assets Current Assets $ . $ 4 69 . $ Total Current Assets s Property, Plant, and Equipment + $ $ . Property, Plant, and Equipment $ $ Total Property, Plant, and Equipment $ Total Assets $ Liabilities Current Liabilities + $ $ $ Total Current Liabilities $ Noncurrent Liabilities Total Noncurrent Liabilities $ Total Liabilities t Owner's Equity + $ Total Owner's Equity $ Total Liabilities and Owner's Equity