Required information [The following information applies to the questions displayed below.] The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit $ Debit 11,600 146,000 5,600 28,000 360,000 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 Rent Expense Depreciation Expense Interest Expense $ 131,000 11,600 10.600 4.600 36,000 260,000 56,000 460,000 360,000 18,000 36,000 4.600 Totals $969,800 $969,800 Required: 1. Prepare an income statement for the year ended December 31, 2018. FIGHTIN' BLUE HENS CORPORATION Income Statement For the Year Ended December 31, 2018 Service revenue $ 460,000 Expenses: Salaries expense Rent expense Depreciation expense Interest expense $ 360,000 18,000 36,000 4,600 Total expenses Net income 418.600 41,400 $ 2. Prepare a statement of stockholders' equity for the year ended December 31, 2018, assuming no common stock was issued during 2018 FIGHTIN' BLUE HENS CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2018 Common Stock Retained Earnings Total Stockholders Equity Balance at January 1 - 1 Less: Dividends Balance at December 31 W IT 3. Prepare a classified balance sheet as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) FIGHTIN' BLUE HENS CORPORATION Balance Sheet December 31, 2018 Assets Liabilities $ $ P Cash Accounts receivable Prepaid rent Supplies 11,600 146,000 5,600 28,000 Accounts payable Salaries payable Interest payable 11,600 10,600 4,600 Total current assets 26,800 191,200 Total current liabilities Notes payable 4.600 4.600 Total long-term liabilities Stockholders' Equity 350,000 Common stock (131,000) Retained earnings $ Equipment Accumulated depreciation 260,000 97,000 Total long-term assets Total assets 229,000 Total stockholders equity 420,200 Total liabilities and stockholders' equity 357.000 388,400 $ $