Ryder Construction Company Adjusted Trial Balance 31-Dec-17 Debit Credit Cash 1080 Sales 66000 Inventory 12000 Prepaid expenses 600 Land 9000 Buildings and equipment, net 36800 Accounts payable 18500 Accrued payables 900 Accounts receivable, net 9000 Notes payable, short term 0 Bonds Payable 8000 Preferred stock 1000 Interest Expense 800 Common Stock 2000 Dividends 510 Additional paid-in capital 4000 Retained Earnings 32610 Cost of Goods Sold 43000 Selling expenses 11500 Administrative expenses 7400 Income taxes 1320 Totals 133010 133010 Adjusted Trial Balance 31-Dec-16 Debit Credit Cash 1210 Sales 64000 Inventory 10600 Prepaid expenses 500 Land 9000 Buildings and equipment, net 38000 Accounts payable 17400 Accrued payables 700 Accounts receivable, net 6500 Notes payable, short term 100 Bonds Payable 8000 Preferred stock 1000 Interest Expense 800 Common Stock 2000 Dividends 850 Additional paid-in capital 4000 Retained Earnings 31540 Cost of Goods Sold 42000 Selling expenses 11000 Administrative expenses 7000 Income taxes 1280 Totals 128740 128740 Use the adjusted trial balances for 2017 and 2016 to answer the following questions: 1. Prepare the annual income statement for 2017 and 2016. Use a multi-step format for the income statement. 2. Prepare a statement of retained earnings for 2017 and 2016. 3. Prepare a classified balance sheet for 2017 and 2016. Make sure to show the appropriate subtotals.