Strand Corp had the following adjusted Trial Balance, for 12 months ended December 31, 2016:
			Debit	Credit
Cash			$250,000
Common Stock				$50,000
Revenues				$250,000
Equipment			$125,000
Wage expense			$75,000
Utilities expense			$15,000
Accumulated depreciation				$40,000
Bonds payable				$200,000
Depreciation exp			$30,000
Supplies			$20,000
Accounts payable				$7,000
Accounts receivable			$100,000
Wages payable				$28,000
Note payable (due in 2 yrs)				$50,000
Bad debt expense			$10,000
TOTALS			$625,000	$625,000
REQUIRED:
Based on the adjusted Trial Balance above, prepare a FORMAL:
1. Income Statement
2. Classified Balance Sheet