The December 31, 2024, adjusted trial balance for Ostrich Corporation is presented below. Credit Debit $23,000 205,000 6,000 41,000 320,000 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 $23,000 22,000 4,000 51,000 355,000 82,000 555,000 411,000 31,000 51,000 4,000 $1,092,000 $1,092,000 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. 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. Complete this question by entering your answers in the tabs below. Income Stmt of Statement Stockholders Balance Sheet Equity Prepare an income statement for the year ended December 31, 2024. OSTRICH CORPORATION Income Statement For the Year Ended December 31, 2024 Expenses: Total expenses 0 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. Complete this question by entering your answers in the tabs below. Income Stmt of Statement Stockholders Balance Sheet Equity Prepare a statement of stockholders' equity for the year ended December 31, 2024, assuming no common stock was issued during 2024. OSTRICH CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2024 Common Stock Retained Earnings Total Stockholders' Equity Balance at January 1 Balance at December 31 Stmt of Income Statement Stockholders Balance Sheet Equity Prepare a classified balance sheet as of December 31, 2024. OSTRICH CORPORATION Balance Sheet December 31, 2024 Assets Liabilities Current assets: Current liabilities: Total current assets 0 0 Total current liabilities Long-term liabilities: Total liabilities 0 Long-term assets: Stockholders' Equity 0 Total long-term assets Total assets 0 Total stockholders' equity 0 Total liabilities and stockholders' equity $ $ $ 0
