The December 31, 2012, adjusted trial balance for Blue Hens Corporation is presented below.

Required:
1. Prepare an income statement for the year ended December 31, 2012.
2. Prepare a classified balance sheet as of December 31, 2012?

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Debit Credit Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense $ 11,000 140,000 5,000 25,000 300,000 $125,000 11,000 10,000 4,000 30,000 200,000 50,000 400,000 300,000 15,000 30,000 4,000 $830,000 Totals $830,000