These accounts and balances are taken from the financial statements of Ayayai Corporation for the year ended December 31, 2018. Retained earnings, January 1 Utilities expense Equipment Accounts payable Income tax payable Cash Salaries payable Common shares, January 1 Dividends declared Service revenue Prepaid insurance Repair and maintenance expense Depreciation expense Accounts receivable Insurance expense Salaries expense Income tax expense Accumulated depreciation equipment $35,000 300 79,000 12,700 4,800 13,900 3,000 13,000 10,500 68,500 7,500 1,900 3,500 5,200 3,600 28,000 6,300 15,600 Ayayai issued $7,100 of common shares during the year. Prepare an income statement for the year ended December 31, 2018. AYAYAI CORPORATION Income Statement $ $ 7 Prepare an a statement of changes in equity for the year ended December 31, 2018. (If an amount reduces the account balance then enter with negative sign e.g. -45 or parentheses e.g. (45).) AYAYAI CORPORATION Statement of Changes in Equity Common Shares Retained Earnings Total Equity $ $ $ $ Prepare classified statement of financial position at December 31, 2018. (List Current Assets in order of liquidity.) Prepare classified statement of financial position at December 31, 2018. (List Current Assets in order of liquidity.) AYAYAI CORPORATION Statement of Financial Position Assets $ $ Liabilities and Shareholders' Equity $ $ $ $