The December 31, 2024, adjusted trial balance for Ostrich Corporation is presented below. Debit $25,000 220,000 7,000 44,000 335,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Land Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Utilities Expense Interest Expense Totals 414,000 34,000 54,000 4,000 $1,137,000 Credit $26,000 25,000 4,000 54,000 370,000 88,000 570,000 $1,137,000 Required: 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during 2024. 3. Prepare a classified balance sheet as of December 31, 2024.

The December 31, 2024, adjusted trial balance for Ostrich Corporation is presented below. Required: 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare a statement of stockholders' equity for the year ended December 31,2024 , assuming no common stock was issued during 2024. 3. Prepare a classified balance sheet as of December 31, 2024