Hog Wild is a retail firm that sells motorcycles, parts, and accessories. The adjusted trial balance data given below is from the firm's worksheet for the year ended December 31, 2019.

INSTRUCTIONS

1. Prepare a classified income statement for the year ended December 31, 2019. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses.

2. Prepare a statement of owner's equity for the year ended December 31, 2019. No additional investments were made during the period.

3. Prepare a classified balance sheet as of December 31, 2019. The mortgage payable extends for more than one year.

ACCOUNTS

Analyze:
What is the inventory turnover for Hog Wild?

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Deblt $140 200 Credlt Cash Petty Cash Fund Notes Recelvable, due 2020 Accounts Recelvable Allowance for Doubtful Accounts Interest Recelvable Merchandise Inventory Warehouse Supplies Office Supplies Prepald Insurance Land Building Accumulated Depreclation Building Warehouse Equipment Accumulated Depreclation-Warehouse Equipment Office Equipment Accumulated Depreclation-Office Equipment Notes Payable, due 2020 Accounts Payable 54,600 $ 5,000 200 87,915 3,700 1,800 6,900 20,400 53,100 8,400 24,000 12,800 15800 8,000 32,500 Interest Payable Notes Payable, Long-tem Mortgage Payable Nick Henry, Capital (Jan. 1) Nick Henry, Drawing ncome Summary Sales Sales Returns and Allowances Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Warehouse Wages Expense Warehouse Supplies Expense Depreclation Expense-Warehouse Equipment Salaries Expense-Sales Travel Expense-Sales Delivery Expense Salaries Expense-Office Office Supplles Expense Insurance Expense Utilities Expense Telephone Expense Payroll Taxes Expense Building Repairs Expense Property Taxes Expense Uncollectible Accounts Expense Depreclation Expense-Building Depreclation Expense Office Equipment Interest Expense Totals 6,000 35,875 198,710 87,915 608,417 720 230,050 9,600 6,420 5,760 64,300 2,400 78,900 35,400 57,500 1.360 12 19.200 3,100 11,A 》 2,900 3,200 1.011317$1.011.317