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Question 1 [50 points] Callaho Inc. began operations on March 1, 2013. Its adjusted account balances at February 28, 2014 are shown below. Use this information to prepare the following: a. Income statement for the year ended February 28. b. Statement of changes in equity for the year ended February 28. c. Classified balance sheet at February 28. Account Balance (select one) Accounts payable 2,800 Income Statement (select one) Accounts receivable 6,990 Accumulated depreciation, boats 590 1,230 Accumulated depreciation, building Boats 3,120 8,910 Bonds Payable (due August, 2022) Building 3,970 Cash 3,840 Consulting revenue earned 4,690 Depreciation expense, boats 590 Depreciation expense, building. 1,230 Dividends 2.970 Interest earned 1,260 Land 6,340 Long-term investment in shares 9,330 Mortgage Payable (due August, 2022) 9,320 Patents 7,990 Rent earned 7,790 Rent expense 5,090 4,390 Rent payable 10,710 Share capital Trademark Uneamed rent 5,390 5,160 XXX +++++ +++ *** * (select one) Balance Sheet (select one) + + (select one) Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity