The December 31, 2015, adjusted trial balance for Fightin' Blue Hens Corporation is presented below.

The December 31, 2015, adjusted trial balance for Fightin' Blue Hens Corporation is presented below.

Accounts	Debit			Credit
Cash	$	10,300
Accounts Receivable		133,000
Prepaid Rent		4,300
Supplies		21,500
Equipment		230,000
Accumulated Depreciation				$	118,000
Accounts Payable					10,300
Salaries Payable					9,300
Interest Payable					3,300
Notes Payable (due in two years)					23,000
Common Stock					130,000
Retained Earnings					43,000
Service Revenue					330,000
Salaries Expense		230,000
Rent Expense		11,500
Depreciation Expense		23,000
Interest Expense		3,300
Totals	$	666,900		$	666,900
Required:

1.	Prepare an income statement for the year ended December 31, 2015.

2.	Prepare a statement of stockholders' equity for the year ended December 31, 2015, assuming no common stock was issued during 2015.

3.	Prepare a classified balance sheet as of December 31, 2015. (Amounts to be deducted should be indicated by a minus sign.)

Explanation:

Retained earnings	=	Beginning retained earnings + Net income − Dividends
	=	$43,000 + $62,200 − $0
	=	$105,200