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

Exercise 3-16 Prepare financial statements from an adjusted trial balance (LO5) [The following information applies to the questions displayed 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