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Party Wagon, Inc., provides musical entertainment at weddings, dances, and various other functions. The company performs adjusting entries monthly, but prepares closing entries annually on December 31. The company recently hired Jack Armstrong as its new accountant. Jack's first assignment was to prepare an income statement, a statement of retained earnings, and a balance sheet using an adjusted trial balance given to him by his predecessor, dated December 31 , current year. adlicted trial balance, Jack prepared the following set of financial statements. Required: a. Prepare a corrected set of financial statements dated December 31, current year. (You may assume company's adjusted trial balance were reported correctly except for Interest Payable of $240, which financial statements prepared by Jack.) Complete this question by entering your answers in the tabs below. Prepare the income statement