The adjusted trial balance data given below is from the firm's worksheet for the year Qlany Rarawoods Company distributes hardwood products to small furniture manu ended December 31, 2016. INSTRUCTIONS 1. Prepare a classified income statement for the year ended December 31,2016. The expense accounts represent warehouse expenses, selling expenses, and general and administrative 2. Prepare a statement of owner's equity for the year ended December 31,2016. No additional 3. Prepare a classified balance sheet as of December 31, 2016. The mortgage and the loans extend ACCOUNTS expenses investments were made during the period. for more than a year. Debit Credit s 24,100 500 11,800 96,000 Cash Petty Cash Fund Notes Receivable Accounts Receivable Allowonce for Doubtful Accounts Merchandise Inventory Warehouse Supplies Office Supplies Prepaid Insurance Land Building Acumulated Depreciation-Building Warehouse Equipment Accumulated Depreciation-Warehouse Equipment S 6,000 234,000 2,860 ,420 10,200 46,000 178,000 37,000 51,000 25,000 54,000 17,400 19,600 Delivery Equipment Accumulated Depreciation-Delivery Equipment Office Equipmernt Accumulated Depreciation-Office Equipment Notes Payable Accounts Payable nterest Payable Morigage Payable 12,000 20,200 39,000 580 61,000