The following accounts are taken from Equilibrium Riding, Inc., a company that specializes in occupational therapy and horseback riding lessons, as of December 31.

Required:
Using the unadjusted trial balance provided, create a classified Balance Sheet, Statement of Retained Earnings, and Income Statement for Equilibrium Riding, Inc., for the year ended December 31. (These financial statements would be considered €œpreliminary€ because they use unadjusted balances.)

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EQUILIBRIUM RIDING, INC Unadjusted Trial Balance At December 31 Account Name Cash Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Unearned Revenue Notes Payable (long-term) Common Stock Retained Eamings Dividends Service Revenue Salaries and Wages Expense Repairs and Maintenance Expense Office Expenses Debits Credits 59,750 3.300 4,700 64.600 23.000 29,230 1,500 74,000 5,000 14.500 35.700 3.,900 410 270 159,930 Totals $159,930