Halliwell Company prepared the following trial balance at its year end of June $30,2022.$ The company is owned by Wayne Halliwell.

Halliwell Company

Trial Balance

June $30,2022$

Account Titles DR CR

Cash $$15,000$

Accounts Receivable $$6,500$

Merchandise Inventory $$6,600$

Prepaid Expenses $$2,300$

Store Equipment $$40,000$

Accumulated Depreciation$-$Equipment $$3,000$

Accounts Payable $$6,800$

Unearned Revenue $$5,600$

Bank Loan $$18,000$

Halliwell, Capital $$34,400$

Halliwell, Withdrawals $$1,600$

Sales Revenue $$53,100$

Gain on Sale of Equipment $$4,700$

Cost of Goods Sold $$18,300$

Advertising Expense $$1,600$

Depreciation Expense$-$Equipment $$3,000$

Interest Expense $$600$

Office Salaries Expense $$4,900$

Rent Expense$-$Retail Space $$10,900$

Rent Expense$-$Office Space $$5,500$

Sales Salaries Expense $$8,800$

Total $$125,600$ $$125,600$

Notes: Assume the balance of owner's equity is the opening balance. The bank loan is payable over $10$ years in equal annual installments.

Required

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.

Use negative signs only for Loss from Operations or Net Loss.

Halliwell Company

Income Statement

For the Year Ended June $30,2022$

Sales Revenue $Answer

Cost of Goods Sold $Answer

Gross Profit $Answer

Operating Expenses

Selling Expenses

Answer $Answer

Answer $Answer

Answer $Answer

Answer $Answer

Total Selling Expenses $Answer

Administrative Expenses

Answer $Answer

Answer $Answer

Total Administrative Expenses $Answer

Total Operating Expenses $Answer

Income from Operations $Answer

Other Income and Expenses

Answer $Answer

Answer $Answer $Answer

Net Income $Answer

b$)$ Prepare a statement of owner's equity.

Halliwell Company

Statement of Owner's Equity

For the Year Ended June $30,2022$

Halliwell, Capital $($Beginning$)$ $Answer

Add: Net Income $Answer

Less: Halliwell, Withdrawals $Answer

Subtotal $Answer

Halliwell, Capital, June $30,2022$ $Answer

c$)$ Prepare a classified balance sheet.

Halliwell Company

Balance Sheet

As at June $30,2022$

Assets

Current Assets

Answer $Answer

Answer $Answer

Answer $Answer

Answer $Answer

Total Current Assets $Answer

Property, Plant, and Equipment

Answer $Answer

Answer $Answer

Total Property, Plant, and Equipment $Answer

Total Assets $Answer

Liabilities

Current Liabilities

Answer $Answer

Answer $Answer

Answer $Answer

Total Current Liabilities $Answer

Long$-$Term Liabilities

Answer $Answer

Total Long$-$Term Liabilities $Answer

Total Liabilities $Answer

Owner's Equity

Answer $Answer

Total Owner's Equity $Answer

Total Liabilities and Owner's Equity $Answer