Prepare financial statements from account balances (LO4-5) The December 31, 2024, account balances for Fightin' Blue Hens Corporation are presented below. The balances have already been appropriately adjusted. Required: 1. List the account type & financial statement where you find each of the accounts listed. Account Types: Current Assets (CA), Long-term Assets (LTA), Current Liabilities (CL), Long-term Liabilities (LTL), Stockholders' Equity (SE), Revenue (R), Expenses (E). Financial Statements: Balance Sheet (B/S), Income Statement (I/S). 2. Prepare an income statement for the year ended December 31, 2024. 3. Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during 2024. 4. Prepare a classified balance sheet as of December 31, 2024. Cash Accounts Receivable Accounts Prepaid Rent Supplies Land Accounts Payable Salaries Payable Balance $12,000 150,000 6,000 30,000 265,000 12,000 11,000 Account Type Financial Statement 6

Prepare financial statements from account balances (LO4-5) The December 31, 2024, account balances for Fightin' Blue Hens Corporation are presented below. The balances have already been appropriately adjusted. Required: 1. List the account type \& financial statement where you find each of the accounts lased. Account Types: Current Assets (CA), Long-term Assets (LTA), Current Liabilites (CL), Long-term Liabilities (LTL). Stockholders' Equity (SE), Revenue (R), Expenses (E). Financial Statements; Balance Sheet (B/S), Income Statement (VS). 2. Prepare an income statement for the year ended December 31,2024. 3. Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during 2024. 4. Prepare a classified balance sheet as of December 31, 2024 . \begin{tabular}{|l|r|l|l|} \hline Accounts & Balance & Account Type & Financlal Statement \\ \hline Interest Payable & 5,000 & & \\ \hline Notes Payable (due in two years) & 40,000 & & \\ \hline Common Stock & 300,000 & & \\ \hline Retained Earnings & 60,000 & & \\ \hline Service Revenue & 500,000 & & \\ \hline Salaries Expense & 400,000 & & \\ \hline Rent Expense & Y20,000 & & \\ \hline Utillties Expense & 40,000 & & \\ \hline Interest Expense & 5,000 & & \\ \hline \end{tabular} Prepare an income statement for the year ended December 31, 2024. 9 Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during 2024. Prepare a classified balance sheet as of December 31, 2024