Lilac Designs provides consulting services related to home decoration. Lilac Designs provides customers with recommendations for a full range of home dcor, including window treatments, carpet and wood flooring, paint colors, furniture, and much more. Below is the year-end adjusted trial balance of Lilac Designs. LILAC DESIGNS Adjusted Trial Balance December 31, 2024 Accounts Cash Accounts Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Notes Payable (due in four years) Common Stock Retained Earnings Service Revenues Salaries Expense Rent Expense Depreciation Expense Supplies Expense Advertising Expense Utilities Expense Interest Expense Totals Required: Debits Credits $ 4,100 3,100 1,100 5,100 101,000 $ 20,100 2,100 3,100 1,100 11,000 41,000 14,100 117,600 41,100 17,100 6,100 7,100 12,100 11,100 1,100 $ 210,100 $ 210,100 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $11,000. This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2024.