on Part V 30 points) The following items are taken from the adjusted trial balance of Martel Vineyards, Inc. on December 31, 2018, the end of Martel's first year in business. All accounts have a normal balance. Accounts Payablo Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation - Equipment Building $ 4,000 7,000 2,000 1,000 Cash -25,000 Common Stock 15,000 Depreciation Expense 27,500 Dividends Declared 3,000 Equipment -5,000 Insurance Expense 10,000 Interest Expense 4,200 1,500 Land 12,000 Mortgage Payable ($5,000 payable in 2019) 25,000 Prepaid Expense 2,300 Service Revenue 26,000 Trademarks 3,000 Unearned Revenue 2,500 O CALCULATE NET Incone D CALCHATE ENOWE RETAWCA CARMAG 3 Prepare a classified balance sheet in proper accounting form for the year ended December 31, 2018. Use the worksheet provided on the facing page. Required: PPE SCRATCH WORK BELOW WORK IN THIS AREA WILL NOT BE GRADED Incstas Curr As Service revenue 26,000 Acc rec 7,000 Depri exp 3,000 'Cash 15,000 Insu exp. 1.200 Buildi. 25,000 Int exo 1,500 AD-Bull 2000 Pre exp 2300 X Equip : 10.000 : pop Netinc - 261000 - 11,000 Land 12.000 Intang AS Long-term nay = 15,000 Trademar i3,000 mors 25,000 Acc Psy 4,000 Unear rei 2,500 200 V ( Curr Liab 130 S OF 90095 500 Inventory 730 Martel Vinevards, Inc Revenue Service revenue Dec 31, 2018 26.000 Depreciation Expense Insurance Expense Interest Expense Prepaid Expense Total Expense Net income 3.000 200 .500 21200 III 15.000 Related Earning Bealnlng retalaed zarna DA Lends Oecteareol S000 Content ASSES ACLOUS receivable 51.000 2000 15.000 PPE Buildina Accumulated Depreciation - Bulvia Equipment AC Mate Detecton-Fament 25,000 2.000 23.000 10,000 1.000 22000 12000 3,000 Linear Intangible Assets Trademarks Total Current Assets Current L es Accounts Persbe Uneamed Gerice revenue 69.000 4.000 2. SRO LONterne MC284e Painle Mortgage Payable XI 25.000 L S THE Stock common 1 I 27.500 T L 730