The December 31, 2015, adjusted trial balance for Blue Hens Corporation is presented below.

Required:
1. Prepare an income statement for the year ended December 31, 2015.
2. Prepare a statement of stockholders' equity for the year ended December 31, 2015, assuming no common stock was issued during 2015.
3. Prepare a classified balance sheet as of December 31,2015.

Transcribed Image Text:

Debit S 15,700 132,500 Credit Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Pavable Interest Payable Notes Payable (due in two years) Common Stock Retained Eamings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 6,100 34,400 280.000 S156,900 9.300 12,500 4.800 27,500 126,200 77,500 420.000 310,000 24,300 26,500 5,200 $834.700 Totals