Superior Hardwood Company distributes hardwood products to small furniture manufacturers. The below is from the firm's worksheet for the year ended December 31, 2019 Credit Danse 22,500 $ 500 10,200 $1.000 L 218,eee 2,700 1,260 5,4 3e, Bee 162,00 * 44,400 29,000 12,6ee 16,400 17.00 7,200 18,6ee 37,400 420 53,000 9,eee 317,62 125,400 228,eee ACCOUNTS Cach Petty Cash Fund Notes Receivable due 2029 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 Depreciation Expense-Building Depreciation Expense-Office Equipment Interest Expense Totals 218,eee 1,697, see 16,600 1,420 751,eee 12,280 6,840 9,560 183,689 5. See 4,200 253,200 19,900 58,739 8,209 69,00 2,400 4,600 7,690 4,920 51,000 4,000 4,200 7,480 2,400 6,600 $2,453,300 $2.453.3 Required: 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 rep 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, 2010 offered 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 selling expenses Net delivered cost of purch Total merchandise available fo Gross profit on sales Operating expenses Warehouse expenses Total warehouse expenses Total selling expenses General and administrative expenses Total general and administrative exp Total operating expenses door Required 2 > roblems 125,400 228,000 218, 1.697.co 16,6ee 1.420 751,000 12.20 Charles Ronie, Drang Inco Summary Sales Sales Returns and Allowances Interest Income Purchases Freight in Purchases Returns and allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies twpense Depreciation Expenserhouse Equipment Salaries Expense-sales Travel and Entertainment Expense Delivery wages Expense Depreciation Expense-Delivery Equipment Salaries Expense-Office Office Supplies Expense $1,000 Payroll Taxes Expense Property Taxes Expense Uncollectible Accounts Expense Depreciation penselling Depreciation Expense-Office Equipment Interest Expense Totals 52.45.00 $2,453,1 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 rato for this business? Complete this question by entering your answer Required 2 Required 3 Analyze Prepare a statement of owner's equity for the year anded December 31, 2019. No additional investments were made during SUPERIOR HARDWOOD COMPANY Statement of Owner's Equity