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The adjusted trial balance for the year of Schneider Corporation at October 31, 2021, follows. (Click the icon to view the adjusted trial balance.) Read the requirements +++++ Requirement 1. Prepare Schneider Corporation's 2021 single-step income statement, statement of retained earnings, and balance sheet. Begin by preparing Schneider's 2021 income statement. Schneider Corporation Income Statement Year Ended October 31, 2021 Income before tax Now prepare the statement of retained earnings (Include a subtotal after the "Add" line of the statement) The adjusted trial balance for the year of Schneider Corporation at October 31, 2021, follows cick the icon to view the dusted trial balance) Read the requirements Now prepare the statement of retained earnings.com het re "Ads" ine of the statement) Schneider Corporation Statement of Retained Earnings Year Ended October 31, 2021 Add. Subtots Les Prepare the balance sheet at an eroat fald es pot used in se bounce sret save the fed emots, do not beliet a lot or ordet a zero. Do not classy se bertance sheet into current and kong term sectione) Schneider Corporatie Balance Sheet October 31, 2021 Assets The idral balance for the year of the Corporation October 31, 2021 Click the love these two Read the October 31, 2021 Assets Stock Le Requirement 2. Schneider som forreo at the company carton se to ne higher om 090 Crest Bore Me 11. 2017 eneste era o retete Fret Dagn by contente e como forma de tot.2021. Round you need to suggest a way that Schader could have this to Dit with this al 2021 ficheidenden gure hemanyaan adresse trato at Oct 31, 2021. to determine whether the company in compliance with his debition. Ito Requirement 2. Schrader's Anders require at the company maintain a debt rate no higher than suggest a way of thelder could have wided the Begin by select the based the enter the amount to compute the debate O compte fonte o com out of complace Schneider's interroguire the company mantana de ratione Ny an 0.50. Schneider with the debt reviction at Occa 3,221 Data table Schneider Corporation Adjusted Trial Balance October 31, 2021 Account Debit Credit Cash $ 17,000 18,600 2,000 2,000 36,700 Accounts receivable Supplies Prepaid rent Equipment Accumulated depreciation equipment Accounts payable Interest payable Unearned service revenue 4,100 8,700 1,000 300 2,400 Income tax payable Note payable 18,500 Common stock 19,000 Retained earnings 2,900 Dividends 4,000 Data table 4, TUU Accumulateu uepreciator-equipment Accounts payable Interest payable 8,700 1,000 Unearned service revenue 300 2,400 Income tax payable Note payable 18,500 Common stock 19,000 Retained earnings 2,900 4,000 100,000 Dividends Service revenue Depreciation expense-equipment Salary expense Rent expense Interest expense Insurance expense 1,000 49,800 10,300 2,600 3,700 2,000 7,200 156,900 $ Supplies expense Income tax expense $ 156,900 Total Income statement, statement of retained earnings, and balance sheet. Requirements 1. Prepare Schneider Corporation's 2021 single-step income statement, statement of retained earnings, and balance sheet. 2. Schneider's lenders require that the company maintain a debt ratio no higher than 0.50. Calculate Schneider's debt ratio at October 31, 2021, to determine whether the company is in compliance with this debt restriction. If not, suggest a way that Schneider could have avoided this difficult situation. Print Done