I am confused on this question. please and thank you.
Artisan Wines Worksheet Year Ended December 31, 20X1 Adjustments Ad usted Trial Balance Debit Credit Debit Credit $ 27.986.00 460.00 Income Statement bebit Credit Balance Sheet Debit Credit $27.986.00 460.00 440.00 180.00 11,600.00 14,500.00 880.00 80.00 11.600.00 380.00 80.00 11.600.00 23,000.00 23,000.00 5,625.00 3,025.00 5,625.00 Trial Balance Recount Name Debit Credit Cash $ 27.986.00 Accounts 460.00 Receivable Prepaid Advertising 1,320.00 Supplies 260.00 Merchandise 14,600.00 Inventory Store Equipment 23,000.00 Accumulated Depreciation 2,600.00 -Store Equipment office 4.600.00 Equipment Accumulated Depreciation 1,460.00 -ottice Equipment Notes Payable, due 10,000.00 20x2 Accounts 2,305.00 Payable Wagen Payable Social Becurity Tax Payable Medicare Tax 4.600.00 4.600.00 2.420.00 960.00 I 2, 420.00 10.000.00 18,000.00 2,305.00 2,305.00 420.00 420.00 420.00 26.04 26.04 26.06 6.09 6.09 6.09 Na 2,305.00 2,305.00 2.305.00 420.00 420.00 420.00 26.04 26.04 26.04 6.09 6.09 4.800.00 3,200.00 1,600.00 1,600.00 90.00 90.00 90.00 34.620.00 34.620.00 34,620.00 13,710.00 13,10.00 14,600.00 11.600.00 14,500.00 14,600.00 Payable Wages Tayable Social Security Tax Tayable Medicare TAX Payable Unearned Seminar een Interest Payable Vincent Arroyo Capital Vincent Arroyo 13,720.00 Drawing Income Summary Sales Sales Discounts 160.00 Seminar Teo Income Purchase 89,000.00 Purchase Return and Allowances Freight In 185.00 Rent Expense 12,800.00 Wages 23.600.00 Expense Payroll Taxes 2,924.00 Espan Depreciation Expense- store Equipment Depreciation Expenne- 11,600.00 149,970.00 11,600.00 149.970.00 149,970.00 160.00 160.00 3,200.00 3,200.00 3,200.00 89,000.00 89,000.00 960.00 950.00 960.00 185.00 I 12,800.00 24,020.00 105.00 12,800.00 24.020.00 420.00 30.60 2.956.13 2,956.13 3,025.00 3,025.00 3,025.00 960.00 960.00 960.00 Required: 1. Prepare a classified income statement for the year ended December 31, 20X1. The company does not classify its operating expenses as 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. Analyze: What is the inventory turnover for Artisan Wines? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Analyze Required 3 Prepare a classified income statement for the year ended December 31, 20X1. The company does not classify its operating expenses as selling expenses and general and administrative expenses. (Round your answers to 2 decimal places) ARTISAN WINES Income Statement Operating revenue Nel sales Pialiyev Requr REY Hus s Prepare a classified balance sheet as of December 31, 20X1. (Round your answers to 2 decimal ARTISAN WINES Balance Sheet Assets Current assets Book Print O erences Total current assets Plant and equipment: Store equipment Office equipment Total plant and equipment Total assets Liabilities and Owner's Equity Current liabilities: + Total current liabilities Owner's equity Total liabilities and owner's equity Analyze: What is the inventory turnover for Artisan Wines? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze What is the inventory turnover for Artisan Wines? (Round your answer to 2 decim Inventory turnover times Pialiyev Requr REY Hus s Prepare a classified balance sheet as of December 31, 20X1. (Round your answers to 2 decimal ARTISAN WINES Balance Sheet Assets Current assets Book Print O erences Total current assets Plant and equipment: Store equipment Office equipment Total plant and equipment Total assets Liabilities and Owner's Equity Current liabilities: + Total current liabilities Owner's equity Total liabilities and owner's equity Analyze: What is the inventory turnover for Artisan Wines? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze What is the inventory turnover for Artisan Wines? (Round your answer to 2 decim Inventory turnover times
