In-Class Problem 2 The following information was obtained from accounts of JadaTech, Inc. Except as noted, assume that all balance sheet items reflect account balances at December 31, 20xx, and that all income statement items reflect activities that occurred during the year ended December 31, 20XX. There were no changes in paid-in capital during the year. Include the proper headings. Accounts receivable $20,000 Paid-in Capital (9000 shares) $180,000 Accumulated depreciation $104,000 Accounts payable $30,000 COGS $156,000 Income tax expense $16,000 Retained earnings (1,1,20xx) $46,000 Cash $130,000 Interest expense $12,000 Sales $400,000 Merchandise inventory $74,000 Equipment $240,000 Bank loans (long-term) $80,000 Selling, G&A expenses $68,000 Depreciation expense Dividends paid this year $24,000 Prepare an income statement Prepare a statement of changes in owner's equity 3. Prepare a balance sheet $100,000 1. 2