Hassellhouf Companys trial balance at December 31, 2020, is as follows. All 2020 transactions have been recorded except for the items described following the trial balance.

		Debit		Credit
Cash		$25,500
Accounts Receivable		36,500
Notes Receivable		8,800
Interest Receivable		0
Inventory		36,100
Prepaid Insurance		4,800
Land		21,100
Buildings		142,200
Equipment		61,600
Patents		9,800
Allowance for Doubtful Accounts				$550
Accumulated DepreciationBuildings				47,400
Accumulated DepreciationEquipment				24,640
Accounts Payable				27,200
Salaries and Wages Payable				0
Unearned Rent Revenue				5,400
Notes Payable (due in 2018)				12,000
Interest Payable				0
Notes Payable (due after 2018)				36,000
Owners Capital				107,510
Owners Drawings		15,000
Sales Revenue				904,000
Interest Revenue				0
Rent Revenue				0
Gain on Disposal of Plant Assets				0
Bad Debts Expense		0
Cost of Goods Sold		634,000
Depreciation Expense		0
Insurance Expense		0
Interest Expense		0
Other Operating Expenses		61,300
Amortization Expense		0
Salaries and Wages Expense		108,000
Total		$1,164,700		$1,164,700

Unrecorded transactions:

1.		On May 1, 2020, Hassellhouf purchased equipment for $16,000 plus sales taxes of $600 (all paid in cash).
2.		On July 1, 2020, Hassellhouf sold for $3,600 equipment which originally cost $5,000. Accumulated depreciation on this equipment at January 1, 2020, was $2,000; 2020 depreciation prior to the sale of the equipment was $400.
3.		On December 31, 2020, Hassellhouf sold on account $5,300 of inventory that cost $3,300.
4.		Hassellhouf estimates that uncollectible accounts receivable at year-end is $3,800.
5.		The note receivable is a one-year, 8% note dated April 1, 2020. No interest has been recorded.
6.		The balance in prepaid insurance represents payment of a $4,800 6-month premium on September 1, 2020.
7.		The building is being depreciated using the straight-line method over 30 years. The salvage value is $33,000.
8.		The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost.
9.		The equipment purchased on May 1, 2020, is being depreciated using the straight-line method over 5 years, with a salvage value of $2,500.
10.		The patent was acquired on January 1, 2020, and has a useful life of 10 years from that date.
11.		Unpaid salaries and wages at December 31, 2020, total $2,200.
12.		The unearned rent revenue of $5,400 was received on December 1, 2020, for 3 months rent.
13.		Both the short-term and long-term notes payable are dated January 1, 2020, and carry a 9% interest rate. All interest is payable in the next 12 months.

Prepare journal entries for the transactions listed above.

Prepare a 2020 income statement

Prepare an updated December 31, 2020, trial balance.

Prepare a 2020 an owners equity statement

Prepare a December 31, 2020, classified balance sheet.