The Artisan Wines is a retail store selling vintage wines. On December 31, 20xt, the firm's general ledger contained the accounts and balances below. All account balances are normal Inca C 1.25.82 550. 930. 12. 12.500 27.500. Al Salance Debit Credit Canh $ 28,086.00 Accounts Receivable 550.00 Ypad Mvert lang 700.00 plius 350.00 Merchandise Trvatory 15,500.00 e quat 2.500.00 Accumulated Depreciation-store que 3,500.00 Defice Equipment 5,900.00 Asted Depreciation 1.550,00 orice pet notes Payabile, due 202 22,500.00 Account Payable 3.205.00 Payalis ont devrity Tax Payable Medre Tex Payable Dateinar Tees 7.500.00 Interest Payable Vincent Arroyo, Capital 31.450.00 Vincent Arroyo, Drawing 14.610.00 Inco Summary sales 158,910.00 Sales De 250.00 Beer PT Turch 3,500.00 hechasse tuhand 1.050.00 Allowances Treight TR 275.00 Nunt per 13,900.00 Wages Expande 24,500.00 Payroll Tapes 3.814.00 Decoration State Atin W Worksheet Year Ended December 31. TOKI Adastante Adastad Triat Balance Debit Credit Debat Credit 128,886.00 550.00 260.00 520.00 225.00 125.00 13,500.00 15,500. 12,500.00 27.500.00 3,250.00 6,750.00 3,500.00 1.050.00 2.60.00 22.500,00 3.295.00 60.00 690.00 33.20 17.20 8.10 8.70 5.000.00 2.500.00 112.50 112.50 31.650.00 14.410.00 15,500.00 12.10.00 13,500.00 12,500.00 150,970.00 250.00 5,000.00 5,000.00 93,500.00 1,050.00 275.00 13,100.00 60.00 25,100.00 10.89 3.869. 325099 3.250.00 14,610 15,500.00 12,500.00 133.970.00 250.00 93.500.00 3.000.00 1.030.00 275.00 13.700.00 25.100.00 3.149.90 3,250.00 Save Et Tek Payable Table | orice humilated Depreciation- office pent Mots Payabi, de ex Broots Payable Wara Payable Social Security To Payable Medicare Tax Dearned sinar Tees Titteet Vincent Arroyo, Capital Vincent Arroyo. Drawing Inco Duary Dales Sales Disc Seminar Tee Income Purchase purchase turns and Allowancen Praight in Rent Tense Espen Taxes Expense Expense-store Equipoent Depreciation Expense-olice qalpet Advertising Tapenas Supplies Tapenas Interest Expense Totale Bet Inc - 5.500.00 3.100.00 3.500. 1,550.00 1.050.00 2,600.00 22,500.00 3.205.00 22.500.00 3,205.00 600.00 600.00 17.20 17.20 3.70 8.TO 7.500.00 3,000.00 2,500.00 112.50 112.50 31.650.00 31,650.00 14.610.00 14.10.00 16,610, 15,300.00 12,500.00 35.500.00 12,500.00 15,500.00 12,500.00 158,970.00 158.970.00 158,990.00 250.00 250.00 250.00 5.000.00 5.000.00 $3,500.00 5.000.00 13,500.00 93,500.00 1.050.00 1,050.00 1.090.00 275.00 275.00 275.00 13.700.00 13.700.00 13.700.00 24,500.00 600.00 25,100.00 25,100.00 3,024.00 30.60 3,339.90 3,869.90 3,250.00 3,250.00 3,250.00 1.050.00 1.050.00 2.950.00 260.00 260.00 260.00 225.00 225.00 225.00 200.00 112.50 312.50 22.50 # 325.925.00 229,925.00 $ 38,328.10 1 38.178.10 5.247.248.10 $ 247.265.10 $ 157,077.10 5 177,530.00 $9,191. 20.227.50 177.520.00 11.520.00 1.10.191 Wages wa Dane Required: 1. Prepare a classified income statement for the year ended December 31, 20X1. The company does not classify its operating expenses as selling expenses and general and administrative expenses. 2. Prepare a statement of owner's equity for the year ended December 31, 20X1. No additional investments were made during the year 3. Prepare a classified balance sheet as of December 31, 20X1. Analyze: What is the inventory turnover for Artisan Wines? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required) Analyze Prepare a classified Income statement for the year ended December 31, 20X1. The company does not classify its operating expenses as selling expenses and general and administrative expenses. (Round your answers to 2 decimal places) ARTISAN WINES Income Statement Operating revenue Prepare a classified income statement for the year ended December 31, 20X1. The company does not classify its operating expenses as selling expenses and general and administrative expenses. (Round your answers to 2 decimal places.) 0123:27 ARTISAN WINES Income Statement Operating revenue Not sales Cost of goods sold Merchandise inventory, January 1, 20X1 Delivered cost of purchases Net delivered cost of purchases Goods available for sale Cost of goods sold Operating expenses Univered cost of purchases 0 Net dallvered cost of purchase Goods available for sale Cost of goods sold Operating per Total operating expenses Income from operations Other inom Other expenses Net nonoperating income EX 01:23:13 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Prepare a statement of dwner's equity for the year ended December 31, 20X1. No additional investments were made du the year. (Round your answers to 2 decimal places.) ARTISAN WINES Statement of Owner's Equity Prepare a classified balance sheet as of December 31, 20X1. (Round your answers to 2 decimal places.) 2 123s ARTISAN WINES Balance Sheet Assets Current assets Total current assets Plant and equipment Store equipment Office equipment Total plant and equipment Total assets Liabilities and Owner's Equity Current liabilities: Current asbo Plant and equipment Store equipment 8 01:22:58 Office equipment Total plant and equipment Total assets Liabilities and Owner's Equity Current liabilities: Total current liabilities Owner's equity Total fiabilities and owner's equity Analyze: What is the inventory turnover for Artisan Wines? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze What is the inventory turnover for Artisan Wines? (Round your answer to 2 decimal places.) Inventory tumover times Prepare a classified balance sheet as of December 31, 20X1. (Round your answers to 2 decimal places.) 2 123s ARTISAN WINES Balance Sheet Assets Current assets Total current assets Plant and equipment Store equipment Office equipment Total plant and equipment Total assets Liabilities and Owner's Equity Current liabilities: Current asbo Plant and equipment Store equipment 8 01:22:58 Office equipment Total plant and equipment Total assets Liabilities and Owner's Equity Current liabilities: Total current liabilities Owner's equity Total fiabilities and owner's equity Analyze: What is the inventory turnover for Artisan Wines? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze What is the inventory turnover for Artisan Wines? (Round your answer to 2 decimal places.) Inventory tumover times