Problem 13.2A (Algo) Preparing classified financial statements. LO 13-1, 13-2, 13-3 Good to Go Auto Products distributes automobile parts to service stations and repair shops. The adjusted trial balance data that follows is from the firm's worksheet for the year ended December 31, 20X1. Accounts Cash Petty Cash Fund Notes Receivable, due 20X2 Accounts Receivable Interest Receivable Merchandise Inventory Warehouse Supplies Office Supplies Allowance for Doubtful Accounts Debit $ 98,800 400 14,000 140,000 140 128,300 3,100 Credit $ 3,600 680 Prepaid Insurance 4,440 Land 15,800 Building 106,000 Accumulated Depreciation-Building 16,600 Warehouse Equipment 19,600 Accumulated Depreciation-Warehouse Equipment 9,400 Office Equipment 9,200 Accumulated Depreciation-Office Equipment 3,800 Notes Payable, due 20X2 14,800 Accounts Payable Interest Payable Notes Payable, Long-Term Mortgage Payable 56,700 380 16,000 19,000 Colin O'Brien, Capital (January 1) Colin O'Brien, Drawing 70,450 Income Summary 131,200 Sales 324,720 128,300 1,106,300 Sales Returns and Allowances 8,200 Interest Income 560 Purchases 461,000 Freight In 9,600 Purchases Returns and Allowances 13,450 Purchases Discounts 9,040 Warehouse Wages Expense 108,400 Warehouse Supplies Expense 5,600 Depreciation Expense-Warehouse Equipment 3,200 Salaries Expense-Sales 151,500 Travel Expense 23,800 Delivery Expense 37,225 Salaries Expense-Office 84,800 Office Supplies Expense Insurance Expense Utilities Expense Telephone Expense Payroll Taxes Expense Building Repairs Expense Property Taxes Expense Uncollectible Accounts Expense Depreciation Expense-Building Depreciation Expense-Office Equipment Interest Expense Totals 1,200 9,675 7,800 3,260 31,400 3,500 16,200 3,380 5,400 1,600 3,800 $ 1,722,650 $ 1,722,650 Prepare a statement of owner's equity for the year ended December 31, 20X1. No additional investments were made during the year. GOOD TO GO AUTO PRODUCTS Statement of Owner's Equity < Required 1 Required 3 > Current assets Prepaid expenses Total current assets Plant and equipment Building GOOD TO GO AUTO PRODUCTS Balance Sheet Assets Warehouse equipment Office equipment Total plant and eqipment Total assets Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities Owner's equity Liability and Owner's Equity Total liabilities and owner's equity