The adjusted trial balance for Wolkstein Drug Companyfor the year ended December 31, 20x3is shown below.

AccountTitle Debits Credits

Cash 17,300

Accounts receivable 340,000

Prepaid rent 14,000

Inventory 53,000

Office equipment 630,000

Accumulated depreciation 262,000

Accounts payable 76,000

Notes payable (due in six months) 69,000

Salaries payable 7,700

Interest payable 2,300

Common stock 400,000

Retained earnings 160,000

Sales revenue 770,000

Cost of goods sold 462,000

Salaries expense 115,500

Rent expense 42,000

Depreciation expense 63,000

Interest expense 4,600

Advertising expense 5,600

Totals 1,747,000 1,747,000

The adjusted trial balance for Wolkstein Drug Company for the year ended December 31, 203 is shown below. Required: 1. Prepare an income statement for the year ended December 31, 20x3. 2. Prepare a classified balance sheet as of December 31, 203. Prepare an income statement for the year ended December 31,203. deduct