qulred Information ercise 3-16B Prepare financial statements from an adjusted trial balance (LO3- he following Information applies to the questions displayed below.) e December 31, Year 1, adjusted trial balance for a company is presented below. Credit $ Debit 11,990 149,000 5,990 29,500 390,000 $ Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense 134,899 11,990 18,990 4,989 298,080 59.000 398, 990 19.500 39, eue Depreciation Expense Interest Expense Totes $1,939, 700 31,939.00 ise 3-16B Part 3 Day gu 16 Exercise 3-16B Part 3 3. Prepare a classified balance sheet as of December 31, Year 1. (Amounts to be deducted should be Indicated by a m Balance Sheet December 31, Year 1 Liabilities Assets Current liabilities: Current assets: Total current liabilities Total current assets Total liabilities Stockholders' Equity Long-term assets Total stockholders' equity Total long-term assets Total assets Total liabilities and stockholders' equity