1. Using the information presented below, prepare an income statement and statement of financial position from the adjusted trial balance of Hanson Storage. $ 3,050 400 830 80 4,200 $ 1,100 98,000 28,000 115,000 HANSON STORAGE Adjusted Trial Balance December 31 Cash Accounts receivable Prepaid insurance Office supplies Office equipment Accu Dep-Shop equipment Building Accu Dep-Buildings Land Wages payable Property taxes payable Interest payable Unearned rent Long-term notes payable Share capital Retained earnings Dividends Rent earned Wages expense Utilities expense Property taxes expense Insurance expense Office supplies expense Depreciation expense-Office equipment Depreciation expense-Building Interest expense 880 1,400 2,200 460 150,000 30,340 10,000 21,000 57,500 25,000 1,900 2,400 800 250 400 5,570 3,000 $281,880 $281,880