P3-5A Boilermaker Unlimited specializes in building new homes and remodeling existing homes, Remodeling projects include adding game rooms, changing kitchen cabinets and countertops, and updating bathrooms. Below is the year end adjusted trial balance of Boilermaker Unlimited. Prepare financial statements from an adjusted trial balance when net income is positive (L03-5) 162 CHAPTER 3 The Accounting Cycle End of the Period BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Accounts Debits Credits Cash $ 16,000 Accounts Receivable 25,000 Supplies 32,000 Prepaid Insurance 7.000 Equipment 625,000 Accumulated Depreciation $ 200,000 Accounts Payable 31.000 Salaries Payable 28.000 Utilities Payable 5,000 Notes Payable (due in 5 years) 150,000 Common Stock 200,000 Retained Earnings 31,000 Dividends 26,000 Service Revenue-new 450,000 construction Service Revenue-remodeling 280,000 Salaries Expense 160,000 Supplies Expense 285,000 Depreciation Expense 50,000 Insurance Expense 25,000 Utilities Expense 42,000 Interest Expense 9,000 Service Fee Expense 73,000 Totals $1.375,000 $1,375,000 Required: Prepare an income statement, statement of stockholders' equity, and dassified balance sheet. In preparing the statement of stockholders' equity, note that during the year the company issued additional common stock for 530,000. This amount is included in the amount for Common Stock in the adjusted trial balance