The adjusted trial balance of Monty Advertising Services, at December 31, 2024, follows. This is the first year of operations. Click the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the income statement for the year ended December 31, 2024. (If a box is not used in the statement, leave the box empty, do not select a label or enter a zero) Monty Advertising Services Income Statement Year Ended December 31, 2024 Net Income Choose from any list or enter any number in the input nelds and then click Check Answer 10 parts Clear All remaining Check Answer pty, do not select a label or enter a zero) Monty Advertising Services Income Statement Requirements 1. Prepare the income statement for the year ended December 31, 2024. 2. Prepare the statement of retained earnings for the year ended December 31, 2024. 3. Prepare the classified balance sheet at December 31, 2024. Use the report form. 4. Calculate the current ratio at December 31, 2024. 5. Journalize and post the closing entries. Indicate the balance of the Retained Earnings account after the closing entries are posted. 6. Prepare a post-closing trial balance at December 31, 2024 Print Done ome HW SC 4 of 4 (0 complete) Question Help lar to) x bperations 0 Data Table > e statement Monty Advertising Services Adjusted Trial Balance December 31, 2024 Balance Debit Credit Account Title $ 14,000 12,600 Cash Accounts Receivable Office Supplies Land 500 25,000 48.000 $ 30,000 14,000 4,000 3,000 1,600 Building Accumulated Depreciation--Building Furniture Accumulated Depreciation--Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long term) Common Stock Dividends Service Revenue Salaries Expense 8,000 12,000 50,200 20,000 68,300 19.000 hy list Print Done ag Hinswer ype here to search o Que ar to) me x Data Table 12.600 Accounts Receivable 500 25,000 48,000 $ 30.000 14,000 4,000 3,000 1,600 8,000 Office Supplies Land Building Accumulated Depreciation-Building Fumiture Accumulated Depreciation Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Dividends Service Revenue Salaries Expense Supplies Expense Depreciation Expense--Building Depreciation Expense-Furniture Advertising Expense Total 12,000 50 200 20,000 68,300 19,000 1.000 14,000 2,500 6.500 177,100 $ 177,100 IS Print Done