The adjusted trial balance for Hampton Advertising Services is presented below. (Click on the icon to...

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The adjusted trial balance for Hampton Advertising Services is presented below. (Click on the icon to view the adjusted trial balance.) Requirement 1. Prepare the income statement for the year ending December 31, 2024. (Use a minus sign or parentheses to show a net loss. If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Hampton Advertising Services Income Statement Year Ended December 31, 2024 Revenues: Service Revenue Expenses: Salaries Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Furniture Advertising Expense Total Expenses 26500 9200 2200 1100 10500 44100 49500 Hampton Advertising Services is presented below: (Click on the icon to view the adjusted trial balance.) Total Expenses 49500 Net Income (Loss) 5400 Requirement 2. Prepare the statement of retained earnings for the year ending December 31, 2024. (Use a minus sign or parentheses Hampton Advertising Services Statement of Retained Earnings Year Ended December 31, 2024 Retained Earnings, January 1, 2024 34800 5400 Net loss for the year Dividends Retained Earnings, December 31, 2024 17200 12200 Requirement 3. Prepare the classified balance sheet as of December 31, 2024. Use the account form. Begin by preparing the asset section of the balance sheet and then prepare the liabilities and stockholders' equity sections. (If a box is no do not select a label or enter a zero. Abbreviation used: Accum. = Accumulated.) O Requirement 3. Prepare the classified balance sheet as of December 31, 2024. Use the account form. Begin by preparing the asset section of the balance sheet and then prepare the liabilities and stockholders' equity sections. (If a box is not used in do not select a label or enter a zero. Abbreviation used: Accum. - Accumulated.) Hampton Advertising Services Balance Sheet December 31, 2024 Assets Current Assets: Cash Accounts Receivable Office Supplies Total Current Assets Property, Plant, and Equipment: Land: Time Re (Click on the icon to view the adjusted trial balance.) Land Building Less: Depreciation Expense-Building Less: Liabilities C Liabilities Stockholders' Equity Data table Hampton Advertising Services Account Title Cash Accounts Receivable Office Supplies Land Building Adjusted Trial Balance December 31, 2024 Balance Debit Credit $ 13,900 15,500 6,400 18,700 51,500 Print Done table Building Accumulated Depreciation-Building Furniture. Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends Print Done 51,500 $ 38,100 21,100 13,200 10,100 7,500 18,000 28,000 34,800 17,200 ALADD Data table Common Stock 28,000 Retained Earnings 34,800 Dividends 17,200 Service Revenue 44,100 Salaries Expense 26,500 Supplies Expense 9,200 Depreciation Expense-Building 2,200 Depreciation Expense-Furniture 1,100 10,500 Advertising Expense 193,800 $ 193,800 Total Print Done - - X The adjusted trial balance for Hampton Advertising Services is presented below. (Click on the icon to view the adjusted trial balance.) Requirement 1. Prepare the income statement for the year ending December 31, 2024. (Use a minus sign or parentheses to show a net loss. If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Hampton Advertising Services Income Statement Year Ended December 31, 2024 Revenues: Service Revenue Expenses: Salaries Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Furniture Advertising Expense Total Expenses 26500 9200 2200 1100 10500 44100 49500 Hampton Advertising Services is presented below: (Click on the icon to view the adjusted trial balance.) Total Expenses 49500 Net Income (Loss) 5400 Requirement 2. Prepare the statement of retained earnings for the year ending December 31, 2024. (Use a minus sign or parentheses Hampton Advertising Services Statement of Retained Earnings Year Ended December 31, 2024 Retained Earnings, January 1, 2024 34800 5400 Net loss for the year Dividends Retained Earnings, December 31, 2024 17200 12200 Requirement 3. Prepare the classified balance sheet as of December 31, 2024. Use the account form. Begin by preparing the asset section of the balance sheet and then prepare the liabilities and stockholders' equity sections. (If a box is no do not select a label or enter a zero. Abbreviation used: Accum. = Accumulated.) O Requirement 3. Prepare the classified balance sheet as of December 31, 2024. Use the account form. Begin by preparing the asset section of the balance sheet and then prepare the liabilities and stockholders' equity sections. (If a box is not used in do not select a label or enter a zero. Abbreviation used: Accum. - Accumulated.) Hampton Advertising Services Balance Sheet December 31, 2024 Assets Current Assets: Cash Accounts Receivable Office Supplies Total Current Assets Property, Plant, and Equipment: Land: Time Re (Click on the icon to view the adjusted trial balance.) Land Building Less: Depreciation Expense-Building Less: Liabilities C Liabilities Stockholders' Equity Data table Hampton Advertising Services Account Title Cash Accounts Receivable Office Supplies Land Building Adjusted Trial Balance December 31, 2024 Balance Debit Credit $ 13,900 15,500 6,400 18,700 51,500 Print Done table Building Accumulated Depreciation-Building Furniture. Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends Print Done 51,500 $ 38,100 21,100 13,200 10,100 7,500 18,000 28,000 34,800 17,200 ALADD Data table Common Stock 28,000 Retained Earnings 34,800 Dividends 17,200 Service Revenue 44,100 Salaries Expense 26,500 Supplies Expense 9,200 Depreciation Expense-Building 2,200 Depreciation Expense-Furniture 1,100 10,500 Advertising Expense 193,800 $ 193,800 Total Print Done - - X