Refer to the data in Short Exercise S-F:4-1. Prepare Hermine Hair Stylists’ classified balance sheet at December 31, 2025. Assume the Notes Payable is due on December 1, 2032. Use the report form.

Data From Exercise 4-1:

Hermine Hair Stylists’ adjusted trial balance follows. Prepare Hermine Hair Stylists’ income statement for the year ended December 31, 2025. 

Transcribed Image Text:

HERMINE HAIR STYLISTS Adjusted Trial Balance December 31, 2025 Balance Account Title Cash Accounts Receivable Supplies Equipment Debit Credit $ 800 500 900 19,100 Accumulated Depreciation-Equipment Accounts Payable $ 1,000 200 Interest Payable 100 Notes Payable 2,500 Hermine, Capital 10,500 Hermine, Withdrawals 800 Service Revenue 14,800 Rent Expense 4,500 Supplies Expense 300 Depreciation Expense-Equipment 1,000 Interest Expense Total 1,200 $ 29,100 $ 29,100