Question 1 [50 points] XYZ Corporation began operations on July 1, 2013. Its adjusted account balances at June 30, 2014 are shown below. Use this information to prepare the following: a. Income statement for the year ended June 30. b. Statement of changes in equity for the year ended June 30. c. Classified balance sheet at June 30. Account Balance 6,400 (select one) Accounts payable Accounts receivable. 5,480 Income Statement (select one) 1,220 Accumulated depreciation, building Accumulated depreciation, machinery 1,570 Bonds Payable (due June, 2020) 13,070 Building 9,740 Cash 3,920 Commissions earned 7,280 Consulting revenue earned 10,890 Copyright 3,960 Depreciation expense, building. 1,220 Depreciation expense, machinery: 1,570 Dividends 2,260 Insurance expense 1,490 Interest earned 3,310 Land 13,220 Long-term investment in shares 11,930 Share Retained Total Capital Earnings Equity Machinery 12,180 Mortgage Payable (due June, 2020) 7,340 Prepaid insurance, 1,930 Prepaid rent 2,540 Rent earned, 8,480 Rent expense 3,800 Rent payable 3,780 10,320 Share capital. (select one) Statement of Changes in Equity (select one) 31 (select one) Balance Sheet (select one)