The adjusted trial balance of Bradley Irrigation System at December 31, 2016, follows: (Click the icon to view the adjusted trial balance.) Read the requirements. Requirement 1. Prepare the company's income statement for the year ended December 31, 2016. (If a box is not used in th loss.) Bradley Irrigation System Income Statement Year Ended December 31, 2016 Net Income (Loss) This question has not been completed. Bradley Irrigation System Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash 13,000 Accounts Receivable 51,000 Office Supplies 13,500 Prepaid Insurance 6,500 Equipment 28,000 Accumulated Depreciation Equipment 7.400 Building 56,100 Accumulated Depreciation Building 24,200 Accounts Payable 28,700 Interest Payable 400 Salaries Payable 3,800 Unearned Revenue Notes Payable (long-term) 2.100 Common Stock 46.700 22.000 Print Done MacBook Air or the year and Accumulated Depreciation Equipment Building 7.400 56,100 Ha label 0 Requirements 1. Prepare the company's income statement for the year ended December 31, 2016. 2. Prepare the company's statement of retained earnings for the year ended December 31, 2016. Prepare the company's classified balance sheet in report form at December 31, 2016. 4. Journalize the closing entries for Bradley Irrigation Systet. Compute the company's current ratio at December 31, 2016. At December 31, 2015, the current ratio was 2.6. Did the company's ability to pay debts improve or deteriorate, or did it remain the same? Print Done Depreciation Expense Equipment 2,200 1,600 Depreciation Expense-Building The adjusted trial balance of Bradley Irrigation System at December 31, 2016, follows: (Click the icon to view the adjusted trial balance.) Read the requirements. Requirement 1. Prepare the company's income statement for the year ended December 31, 2016. (If a box is not used in th loss.) Bradley Irrigation System Income Statement Year Ended December 31, 2016 Net Income (Loss) This question has not been completed. Bradley Irrigation System Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash 13,000 Accounts Receivable 51,000 Office Supplies 13,500 Prepaid Insurance 6,500 Equipment 28,000 Accumulated Depreciation Equipment 7.400 Building 56,100 Accumulated Depreciation Building 24,200 Accounts Payable 28,700 Interest Payable 400 Salaries Payable 3,800 Unearned Revenue Notes Payable (long-term) 2.100 Common Stock 46.700 22.000 Print Done MacBook Air or the year and Accumulated Depreciation Equipment Building 7.400 56,100 Ha label 0 Requirements 1. Prepare the company's income statement for the year ended December 31, 2016. 2. Prepare the company's statement of retained earnings for the year ended December 31, 2016. Prepare the company's classified balance sheet in report form at December 31, 2016. 4. Journalize the closing entries for Bradley Irrigation Systet. Compute the company's current ratio at December 31, 2016. At December 31, 2015, the current ratio was 2.6. Did the company's ability to pay debts improve or deteriorate, or did it remain the same? Print Done Depreciation Expense Equipment 2,200 1,600 Depreciation Expense-Building