Financial Statement Problem The trial balance for ABC Company is below The trial balance above reflects all of the transactions for the year for ABC Company except for the following information that either happened or needed adjusting entries on the last day of the year (December 31). All of the amounts in the above trial balance have a normal balance. The prepaid insurance of $6,000 was purchased on December 1 and will last for 12 months. 200 Inventory items that each cost $15 were found to be completely obsolete (NRV is zero) and will need to be scrapped. The allowance for bad debts is determined to be 20% of the accounts receivable. A piece of office equipment that orieinally cost $2,500 was sold for $300. This equipment had aceumulated $2,400 of depreciation. An annual payment of $3,300 is due on the note payable on January 1 of the next year. No interest or payment has been recorded since the beginning of the current year. The interest rate on the loan is 4% per year. There were 10,000 shares issued and outstanding for the entire year. Usinz this information, please prepare an income statement, statement of stockholders' equity and balance sheet for the year. Using these statements answer the followine questions: What was ending total stockholders equity? Question 42 (4 points) What is the gross profit for the year? Give answer without dollar sign, commas or decimals. Question 43 ( 4 points) What is the earnings per share for the year? Answer without dollar sign but including decimals. Question 44 ( 4 points) What was ending total current assets for the year? Answer without dollar signs or commas. Question 45 ( 4 points) What was the ending total liabilities for the year