Hendrys Boutique is a retail clothing store for women. The store operates out of a rented building in Storm Lake, Iowa. The following is the stores adjusted year-end trial balance dated December 31, current year.

HENDRY'S BOUTIQUE
Adjusted Trial Balance
December 31, current year
Cash	$	18,240
Accounts receivable		3,120
Merchandise inventory		21,000
Prepaid rent		2,160
Office supplies		1,080
Office equipment		29,200
Accumulated depreciation: office equipment					$	7,400
Store equipment		35,000
Accumulated depreciation: store equipment						7,000
Accounts payable						15,300
Sales taxes payable						3,840
Note payable (current portion $3,000)						15,000
Capital stock						21,600
Retained earnings						25,840
Sales						271,200
Sales returns and allowances		3,000
Cost of goods sold		120,690
Utilities expense stores		3,300
Utilities expense		1,944
Office supply expense		624
Depreciation expense: office equipment		3,300
Rent expense stores		4,320
Rent expense office		3,000
Insurance expense		1,080
Salaries expense stores		57,700
Salaries expense office		48,014
Interest expense		580
Income taxes expense		9,828
	$	367,180			$	367,180

a. Prepare a classified income statement for Hendrys Boutique dated December 31, current year.

Use income statement for XYZ Inc. presented in chapter 5.5 of your text as a guide.

b. Prepare a classified balance sheet for Hendrys Boutique dated December 31, current year.

Use balance sheet for Big Dog Carworks Corp.presented in chapter 4.2 of your text as a guide.