Josh and Kelly McKay began operations of their furniture repair shop, Furniture Refinishers, Inc., on January 1, 2016. The annual reporting period ends December 31st. Below is their adjusted trial balances as of December 31, 2016 and 2017 Furniture Refinishers, Inc. Adjusted Trial Balance December 31st Credit 2016 Debit 37,000 6,000 8,000 18,000 2,000 3,000 Account Titles Cash Accounts receivable Supplies Equipment Accumulated depreciation Other assets Accounts payable Wages payable Interest payable Income taxes payable Long-term notes payable Common stock (60,000 shrs outstanding) Retained earnings Service revenue Wages expense Supplies expense Depreciation expense Interest expense Income tax expense Totals 24,000 3,000 300 1,700 10,000 20,000 2017 Debit Credit 36,000 8,900 10,100 18,000 4,000 3,000 16,400 4,000 600 2,500 10,000 20,000 6,000 60,500 27,500 15,400 2,000 600 2,500 124.000 124.000 55,000 26,000 14,000 2,000 300 1,700 116.000 116.000 Required: 1. Prepare a comparative classified income statement (including EPS) for the years ended December 31, 2016 and 2017. 2. Prepare a comparative statement of stockholders' equity for the years ended December 31, 2016 and 2017 3. Prepare a comparative classified balance sheet as of December 31, 2016 and 2017. 4. Calculate the following ratios for 2016 and 2017 and interpret the results. A suggested format for the ratio analysis has been provided. Current Ratio Total Asset Turnover Net Profit Margin Return on Assets