Village Builders Unlimited specializes in building new homes and remodeling existing homes. Remodeling projects include adding game rooms, changing kitchen cabinets and countertops, and updating bathrooms. Below is the year$-$end adjusted trial balance of Village Builders Unlimited.

VILLAGE BUILDERS UNLIMITED

Adjusted Trial Balance

December $31,2024$

Accounts Debits Credits

Cash $ $16,700$

Accounts Receivable $24,600$

Supplies $31,600$

Prepaid Insurance $6,600$

Investments $($long$-$term$)432,000$

Accounts Payable $ $30,600$

Salaries Payable $27,600$

Utilities Payable $4,600$

Notes Payable $($due in $5$ years$)110,000$

Common Stock $207,000$

Retained Earnings $68,100$

Dividends $25,600$

Service Revenue$$new construction $457,000$

Service Revenue$$remodeling $268,000$

Salaries Expense $156,000$

Supplies Expense $281,000$

Rent Expense $57,000$

Insurance Expense $24,600$

Utilities Expense $41,600$

Interest Expense $6,600$

Service Fee Expense $69,000$

Totals $ $1,172,900$ $ $1,172,900$

Required:

Prepare an income statement for the year ended December $31,2024.$

Prepare the statement of stockholders$$ equity for the year ended December $31,2024,$ note that during the year the company issued additional common stock for $$26,000.$ This amount is included in the amount for Common Stock in the adjusted trial balance.

Prepare the classified balance sheet for the year ended December $31,2024.$