Instructions a. Prepare an income statement and a statement of owner's equity for the year. The owner make any new investments during the year. b. Prepare a classified balance sheet at July 31. Prepare classified balance sheet and comment on liquidity. E4-15 (LO 3, 4) AN Selected financial information for JPC Enterprises as at December 31, 2024, follows: Accounts payable Accounts receivable 197,000 Long-term equity investments $105,600 Licences $ 98,300 45,800 Accumulated depreciation-building 79,900 Mortgage payable 230,000 Building 306,300 Notes payable 55,000 Cash 16,500 Prepaid expenses 6,900 Goodwill Interest payable J. Chrowder, capital Land Additional information: 1. All accounts have normal balances. 2. $17,250 of the mortgage payable will be paid before December 31, 2025. 3. The notes payable are payable on May 17, 2025. Instructions 36,000 Salaries payable 28,700 16,500 Supplies 10,100 279,400 Unearned revenue 27,400 105,600 ot