Prepare Income Statement, Statement of Stockholders Equity, and Classified Balance Sheet for ABC Company using the information below:

December Transactions

1-Dec Began business by depositing $6500 in a bank account in the name of the company in exchange for 650 shares of $10 per share common stock.

1-Dec Paid the rent for the current month, $550.

1-Dec Paid the premium on a one-year insurance policy, $600.

1-Dec Purchased Equipment for $4200 cash.

5-Dec Purchased office supplies from XYZ Company on account, $300.

15-Dec Provided services to customers for $5600 cash.

16-Dec Provided service to customers ABC Inc. on account, $2800.

21-Dec Received $1600 cash from ABC Inc., customer on account.

23-Dec Paid $170 to XYZ company for supplies purchased on account on December 5.

28-Dec Paid wages for the period December 1 through December 28, $4480.

30-Dec Declared and paid dividend to stockholders $200

December Adjusting Entries

31-Dec One months insurance has been used by the company $50.

31-Dec The remaining inventory of unused office supplies is $90.

31-Dec The estimated depreciation on equipment is $70.

31-Dec Wages incurred from December 29 to December 31 but not yet paid or recorded total $480.