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. Accounts Cash Accounts Receivable Supplies Prepaid Insurance Investments (long-term) Accounts Payable Salaries Payable Utilities Payable Notes Payable (due in 5 years) Common Stock Retained Earnings Dividends VILLAGE BUILDERS UNLIMITED Adjusted Trial Balance December 31, 2024 Service Revenue-new construction Service Revenue-remodeling Salaries Expense Supplies Expense Rent Expense Insurance Expense Utilities Expense Interest Expense Service Fee Expense Totals Debits $ 17,600 25,600 32,600 5,400 441,000 24,400 144,000 269,000 66,000 23,400 40,400 6,600 57,000 $ 1,153,000 Credits $ 29,400 26,400 3,400 110,000 216,000 44,800 466,000 257,000 $ 1,153,000 Required: 1. Prepare an income statement for the year ended December 31, 2024. 2. 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 $14,000. This amount is included in the amount for Common Stock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31, 2024.

Villoge Bulders Unimited specializes in building new homes and remodeling existing homes. Remodeling projects include adding game rooms, changing kichen cabinets and countertops, and updating bathrooms. Below is the year-end adjusted trial balance of Vilage Buifiers Unlimited. Required: 1. Prepare an income stotement for the year ended December 31,2024 2. 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 $14,000. This amount is included in the amount for Common $ tock in the adjusted trial balance. 3. Prepare the classified balance sheet for the year ended December 31,2024