The Built4U Company's trial balance at December 31, 2017, is presented below. All 2017 transactions have been recorded except for the items described as unrecorded transactions. debit credit Cash 192,000 Account receivable 916,000 notes receivable 200.000 12,000 interest receivable inventory prepaid insurance 598,000 72.000 land 400,000 buildings 3,000,000 equipment 1,538.000 patents 162.000 allowance for doubtful account 80,000 1,080,000 accumulated depreciation- building 696,600 546,000 24,258 accumulated depreciation- equipment accounts payable salaries and wages payable employee health insurance benefit payable FICA withholding payable Federal income tax withholding payable 10,000 5,0003 4,630 1,308 state income tax withholding payable federal unemployment tax payable 261 1,766 state unemployment tax payable unearned rent revenue 100,000 notes payable (due in 2018) 220,000 interest payable 73,800 600,000 notes payable (due after 2018) 6% preferred stock, $100 par value 500,000 common stock, no par, $10 stated value 1,000,000 110,000 300,000 additional paid-in capital preferred stock additional paid-in capital common stock additional paid-in capital from treasury stock treasury stock 36,000 dividend-preferred stock 30,000 dividend-common stock 12,000 retained earnings 200,000 sales revenue 18,280,000 interest revenue 12,000 rent revenue 20,000 13,000 gain on disposal of plant assets bad debt expense 70,000 cost of goods sold 12,586,000 depreciation expense 339,600 insurance expense 140,000 interest expense 73,800 1,236,000 other operating expenses amortization expense salaries and wages expenses 18,000 1,555,888 691,338 payroll tax and benefit expenses total 23,878,626 23,878,626 Additional information: -Issued and outstanding preferred stock: 5,000 shares -Issued common stock: 100,000 shares -Treasury stock included in above Trial Balance as a cost of $12 per share 3,000 shares Unrecorded transactions: 1. On May 1, 2017, Built4U issued of 10,000 shares of common stock in exchange for land worth $150,000. 2. On July 1, 2017, Built4U purchased 2,000 shares of treasury stock at $12 per share. 3. On September 31, 2017, Built4U sold 1,000 shares of treasury stock for $13 each. 4. On November 1, 2017, Buldt4U sold 3,000 shares of treasury stock at $11 each. Instructions: (a) Prepare journal entries for the transactions listed above as needed. Indicate "No entry needed" where appropriate. Show your well labeled computations either on the side or a separate tab. (b) Prepare an updated December 31, 2017, trial balance. (c) Prepare a 2017 income statement and an owner's equity statement. (d) Prepare a December 31, 2017, classified balance sheet. The Built4U Company's trial balance at December 31, 2017, is presented below. All 2017 transactions have been recorded except for the items described as unrecorded transactions. debit credit Cash 192,000 Account receivable 916,000 notes receivable 200.000 12,000 interest receivable inventory prepaid insurance 598,000 72.000 land 400,000 buildings 3,000,000 equipment 1,538.000 patents 162.000 allowance for doubtful account 80,000 1,080,000 accumulated depreciation- building 696,600 546,000 24,258 accumulated depreciation- equipment accounts payable salaries and wages payable employee health insurance benefit payable FICA withholding payable Federal income tax withholding payable 10,000 5,0003 4,630 1,308 state income tax withholding payable federal unemployment tax payable 261 1,766 state unemployment tax payable unearned rent revenue 100,000 notes payable (due in 2018) 220,000 interest payable 73,800 600,000 notes payable (due after 2018) 6% preferred stock, $100 par value 500,000 common stock, no par, $10 stated value 1,000,000 110,000 300,000 additional paid-in capital preferred stock additional paid-in capital common stock additional paid-in capital from treasury stock treasury stock 36,000 dividend-preferred stock 30,000 dividend-common stock 12,000 retained earnings 200,000 sales revenue 18,280,000 interest revenue 12,000 rent revenue 20,000 13,000 gain on disposal of plant assets bad debt expense 70,000 cost of goods sold 12,586,000 depreciation expense 339,600 insurance expense 140,000 interest expense 73,800 1,236,000 other operating expenses amortization expense salaries and wages expenses 18,000 1,555,888 691,338 payroll tax and benefit expenses total 23,878,626 23,878,626 Additional information: -Issued and outstanding preferred stock: 5,000 shares -Issued common stock: 100,000 shares -Treasury stock included in above Trial Balance as a cost of $12 per share 3,000 shares Unrecorded transactions: 1. On May 1, 2017, Built4U issued of 10,000 shares of common stock in exchange for land worth $150,000. 2. On July 1, 2017, Built4U purchased 2,000 shares of treasury stock at $12 per share. 3. On September 31, 2017, Built4U sold 1,000 shares of treasury stock for $13 each. 4. On November 1, 2017, Buldt4U sold 3,000 shares of treasury stock at $11 each. Instructions: (a) Prepare journal entries for the transactions listed above as needed. Indicate "No entry needed" where appropriate. Show your well labeled computations either on the side or a separate tab. (b) Prepare an updated December 31, 2017, trial balance. (c) Prepare a 2017 income statement and an owner's equity statement. (d) Prepare a December 31, 2017, classified balance sheet