Exercise $3-16($Algo$)$ Prepare financial statements from an adjusted trial balance $($LO$3-5)$

The December $31,2024,$ adjusted trial balance for Badger Corporation is presented below.

$\backslash$table$[[$Accounts$,$Debit,Credit$],[$Cash$,$$$21,000,],[$Accounts Receivable,$200,000,],[$Prepaid Rent,$7,000,],[$Supplies$,40,000,],[$Land$,315,000,],[$Accounts Payable,,$$22,000],[$Salaries Payable,,$21,000],[$Interest Payable,,$5,000],[$Notes Payable $($due in two years$),,50,000],[$Common Stock,,$350,000],[$Retained Earnings,,$80,000],[$Service Revenue,,$550,000],[$Salaries Expense,$410,000,],[$Rent Expense,$30,000,],[$Utilities Expense,$50,000,],[$Interest Expense,$5,000,],[$Totals$,$$$1,078,000,$$$1,078,000]]$

Required:

Prepare an income statement for the year ended December $31,2024.$

Prepare a statement of stockholders' equity for the year ended December $31,2024,$ assuming no common stock was issued during $2024.$

Prepare a classified balance sheet as of December $31,2024.$

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[\backslash$table$[[$Income$],[$Statement$]],\backslash$table$[[$Stmt of$],[$Stockholders$],[$Equity$]],$Balance Sheet$]]$ Prepare an income statement for the year ended December $31$

BADGER CORPORATION

Income Statement

For the Year Ended December $31,2024$ Income

Statement

Stockholders

Balance Sheet

Prepare a statement of stockholders' equity for the year ended December $31,2024,$ assuming no common stock was issued

during $2024.$ Income Statement

Stmt of Stockholders Equity

Balance Sheet

Prepare a classified balance sheet as of December $31,2024.$