Question $1[70$ points$]$

Bentley Inc. began operations on January $1,2022.$ Its adjusted trial balance at December $31,2023$ and $2024$ is shown below. Other information regarding Bentley Inc. and its activities during $2024$ follow in $($a$)$ through $($f$)$ :

a$.$ Assume all accounts have normal balances.

b$.$ $$10,000$ of the long$-$term notes payable will be paid during $2025.$

c$.$ Equipment was sold for cash of $$49,600.$

d$.$ Old machinery was sold for cash of $$46,200.$ New machinery was purchased for $$42,000$ cash.

e$.$ Share capital was issued for cash.

f$.$ Cash dividends were declared and paid.

Using the information provided, prepare a statement of changes in equity, a classified balance sheet, and a statement of cash flows $($using the indirect method$)$ for the year ended December $31,2024.$

$\backslash$table$[[\backslash$table$[[$Bentley Inc$],[$Adjusted Trial Balance$]]],[,$Decem,ander $31],[$Account$,2024,2023],[$Accounts Payable,$63,180,58,000],[$Accounts Receivable,$60,400,88,250],[$Accumulated Depreciation, Equipment,$2,300,58,000],[$Accumulated Depreciation, Machinery.,$13,900,49,500],[$Allowance for Doubtful Accounts,$3,400,14,250],[$Depreciation Expense, Equipment,$13,100,13,100],[$Depreciation Expense, Machinery,$9,400,9,400],[$Cash$.,416,800,255,000],[$Cash Dividends.,$25,000,25,000],[$Equipment$,16,200,133,000],[$Machinery$.,87,000,139,000],[$Merchandise Inventory,$44,740,55,500],[$Long$-$term Notes Payable,$60,070,70,000],[$Other Expenses $($including losses$),590,000,10,000],[$Retained earnings,$79,000,63,000],[$Revenues $($including gains$)6,649,500,73,500],[$Share capital $337,337,000,297,000],[$Unearned Revenue,$54,290,45,000]]$