Problem 3-5B (Algo) Prepare financial statements from an adjusted trial balance (LO3-5) Lilac Designs provides consulting services related to home decoration. Lilac Designs provides customers with recommendations for a full range of home dcor, including window treatments, carpet and wood flooring, paint colors, furniture, and much more. Below is the year-end adjusted trial balance of Lilac Designs. Required: 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $11,000. This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2024. 1. Prepare an income statement for the year ended December 31, 2024 . 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $11,000. This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2024. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year ended December 31, 2024. 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare the statement of stockholders' equity, note that during the year the company issued additional common stock of $11,000. This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2024. Complete this question by entering your answers in the tabs below. Prepare the statement of stockholders' equity for the year ended December 31,2024 . Complete this question by entering your answers in the tabs below