prepare an income statement

and a classified balance sheet

SANDHILL CO. Adjusted Trial Balance December 31, 2022 Debit Credit Cash 26183 Salaries and Wages Expense 1860 Accounts Receivable 1920 Inventory 19167 Prepaid Insurance 1365 Equipment 30500 Accumulated Depreciation-Equipment 2920 Accounts Payable 5170 Income Taxes Payable Common Stock 900 Common Stock Retained Earnings 18170 Sales Revenue JULIA 1980 Sales Discounts 310 Cost of Goods Sold 10400 Depreciation Expense 100 Insurance Expense 453 Income Tax Expense 210 92570 92570