Superior Hardwood Company distributes hardwood products to small furniture manufacturers. The adjusted trial balance data given below is from the firms worksheet for the year ended December 31, 2019.

Credit $ Debit 23,200 500 10,900 87,000 $ 5,100 225,000 2,770 1,330 7,500 37,000 169,000 48,600 32,500 14,700 46,500 17,800 20,500 ACCOUNTS Cash Petty Cash Fund Notes Receivable, due 2020 Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Warehouse Supplies Office Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation-Warehouse Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment Office Equipment Accumulated Depreciation-Office Equipment Notes Payable, due 2020 Accounts Payable Interest Payable Mortgage Payable Loans Payable, Long-term Charles Ronie, Capital (Jan. 1) Charles Ronie, Drawing Income Summary Sales Sales Returns and Allowances Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies Expense Depreciation Expense-Warehouse Equipment Salaries Expense-Sales Travel and Entertainment Expense Delivery Wages Expense Depreciation Expense-Delivery Equipment Salaries Expense-Office Office Supplies Expense Insurance Expense Utilities Expense Telephone Expense Payroll Taxes Expense Property Taxes Expense Uncollectible Accounts Expense Denreciation Fxnense-Ruilding 9,300 19,300 38,100 490 56,500 12,500 404,860 126,100 235,000 225,000 1,667,000 17,300 1,490 758,000 12,900 7,540 10,260 190,600 6,200 4,900 260,200 20,600 59,430 8,900 69,700 3,100 5,300 8,390 5,620 54,500 4,700 4,900 8.199 Depreciation Expense-Building Depreciation Expense-Office Equipment Interest Expense Totals 8,100 3,100 7,300 $2,538,540 $2,538,540 Required: 1. Prepare a classified income statement for the year ended December 31, 2019. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31, 2019. No additional investments were made during the period. 3. Prepare a classified balance sheet as of December 31, 2019. The mortgage payable extends for more than a year. Analyze: What is the current ratio for this business? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a classified income statement for the year ended December 31, 2019. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. SUPERIOR HARDWOOD COMPANY Income Statement Operating revenue Net sales Cost of goods sold Merchandise inventory, January 1, 2019 Delivered cost of purchases Net delivered cost of purchases Total merchandise available for sale Gross profit on sales Operating expenses Warehouse expenses Total warehouse expenses Selling expenses Total warehouse expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative exp. Total operating expenses Income from operations Other income Other expenses Net nonoperating expenses Net income for year Required 1 Required 2 >