I need these two solutions as a study guide

elle Bthon Problem 1 (10 Points) The following tems were taken from the financial statements Mets Company. (All dollars are in thousands.) Long-term debt Prepaid insurance Equipment Long-term investments Short-term investments Notes payable in 2019 Cash Patents $2,950 1,900 15,300 464 3,490 474 4,648 1,600 Accumulated depreciation Accounts payable Notes payable after 2019 Common stock Retained earnings Accounts receivable Inventory 6,600 3,444 1,024 10,000 5,800 1,734 1,456 2018 net income was $2,000 and dividends paid were $1,700 Instructions: Prepare a classified balance sheet in good form as of December 31, 2018. Problem 2 (10 Points) The adjusted trial balance for Molina Company is presented below. MOLINA COMPANY Adjusted Trial Balance July 31, 2018 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 167 Accumulated Depreciatio-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732 Utilities Expense Debits Credits $23,000 14,000 30,000 $10,000 10,500 5,000 25,000 33,500 20,000 75,000 16,000 5,000 62,000 $175.000 $175.000 Instructions (a) Prepare an income statement and a retained earnings statement for the year