Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) [The following information applies to the questions displayed below.) The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Accounts Debit Cash $ 11,700 Accounts Receivable 147,000 Prepaid Rent 5,700 Supplies 28,500 Equipment 370,000 Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense 370,000 Rent Expense 18,500 Depreciation Expense 37,000 Interest Expense 4,700 Totals $993, 100 $132,000 11,700 10,700 4,700 37,000 270,000 57,000 470,000 $993, 100 Exercise 3-16A Part 1 Required: 1. Prepare an income statement for the year ended December 31, 2021. FIGHTIN' BLUE HENS CORPORATION Income Statement For the Year Ended December 31, 2021 Expenses: Total expenses 0 2. Prepare a statement of stockholders' equity for the year ended December 31, 2021, assuming no common stock was issued during 2021. FIGHTIN' BLUE HENS CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2021 Common Retained Total Stockholders' Stock Earnings Equity Balance at January 1 Less: Dividends Balance at December 31 3. Prepare a classified balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) FIGHTIN' BLUE HENS CORPORATION Balance Sheet December 31, 2021 Liabilities Current liabilities: Assets Current assets: Total current assets 0 Total current liabilities 0 0 Total liabilities Stockholders' Equity Long-term assets: Total long-term assets Total assets 0 Total stockholders' equity 0 Total liabilities and stockholders' equity 0 0 $ $ $