The Artisan Wines is a retail store selling balances below. All account balances are normal 31, Tear Ended Deceaber 31 2019 talance Sheat 590.00 390.00 29,500.00 5,900.00 $90.00 C8o.00 4.00 900 00 590.00 Prepaid Advertising Supplies 340.00 245.00 3,350.00 1,090.00 145.00 12,900.00 12,900.00 15.90D.0 12 1s, 500 S, 900,00.250.00 2, 680.00 24,500,00 Equipeent 3,900.00 2.250.00 offiee Equipnent 1.590.00 24,500.00 3,605.00 2,480.00 24.500.00 3, cos.oo doe 2020 Mages 500.00 1 DD 7.25 rned Beninar 8,700.00S,800.00 2 ,900.00 2,900.00 122.30 0,810.00 30.810.00 15,010.00 15,010.00 15,010.00 Incone Sumary Sales s,900.00 12.900.00 15,900.00 162,970.00 15,900.00 12,900.00: 1 12.900.00 162,970.o0 162,970.00 5,800.00 s, 800.00 95,500.00 95,500.00 1,090.00 1,090.00 15.00 14,100.00 315.00 14,100.00 15.00 14,100.00 500.00 8.25 3,350.00 1,090.00 Wages Expense Payroll Taxes Expense 4,224.00 3,350.00 1,090.00 40.00 245.00 362-50 4,262.25 3.350.00 1,090.00 40.00 245.00 42.50 Interest Expense Totals $237,165.00 $237,165.00 $40,285-75 $40,285-7s $255,165.75 8255,165-75 $161,154.75 182,760.00 $94,011.00 $72,405-75 182,760.00 $182,760.00 $94,011.00 94,011.00 Required: L Prepare a classified income statement for the year ended December 31, 2019. The company does not classify its operating 2. Prepare a statement of owner's equity for the year ended December 31, 2019. No additional investments were made during the 3. Prepare a classified balance sheet as of December 31, 2019. Analyze What is the inventory turnover for Artisan Wines