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Good to Go Auto Products distributes automobile parts to service stations and repair shops. The adjusted trial balance data that follows is from the firms worksheet for the year ended December 31, 20X1. Accounts Debit Credit Cash $ 97,800 Petty Cash Fund 500 Notes Receivable, due 20X2 16,000 Accounts Receivable 139,000 Allowance for Doubtful Accounts $ 2,600 Interest Receivable 160 Merchandise Inventory 127,300 Warehouse Supplies 2,100 Office Supplies 580 Prepaid Insurance 3,440 Land 14,800 Building 101,000 Accumulated DepreciationBuilding 16,100 Warehouse Equipment 18,600 Accumulated DepreciationWarehouse Equipment 8,900 Office Equipment 8,200 Accumulated DepreciationOffice Equipment 3,300 Notes Payable, due 20X2 13,800 Accounts Payable 55,700 Interest Payable 280 Notes Payable, Long-Term 11,000 Mortgage Payable 14,000 Colin OBrien, Capital (Jan. 1) 322,140 Colin OBrien, Drawing 69,450 Income Summary 130,200 127,300 Sales 1,086,300 Sales Returns and Allowances 7,200 Interest Income 460 Purchases 451,000 Freight In 8,600 Purchases Returns and Allowances 12,450 Purchases Discounts 8,040 Warehouse Wages Expense 107,400 Warehouse Supplies Expense 4,600 Depreciation ExpenseWarehouse Equipment 2,200 Salaries ExpenseSales 150,500 Travel Expense 22,800 Delivery Expense 36,225 Salaries ExpenseOffice 83,800 Office Supplies Expense 1,100 Insurance Expense 8,675 Utilities Expense 6,800 Telephone Expense 3,160 Payroll Taxes Expense 30,400 Building Repairs Expense 2,500 Property Taxes Expense 15,200 Uncollectible Accounts Expense 2,380 Depreciation ExpenseBuilding 4,400 Depreciation ExpenseOffice Equipment 1,500 Interest Expense 2,800 Totals $ 1,682,370 $ 1,682,370 Required: Prepare a classified income statement for the year ended December 31, 20X1. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. Prepare a statement of owners equity for the year ended December 31, 20X1. No additional investments were made during the year. Prepare a classified balance sheet as of December 31, 20X1. The mortgage payable extends for more than one year. Analyze: What percentage of total operating expenses is attributable to warehouse expenses?

Required: 1. Prepare a classified income statement for the year ended December 31. 20X1. The expense accounts represent warehouse expenses, selling expenses, and general and administrative expenses. year. 3. Prepare a classified balance sheet as of December 31, 20x1. The mortgage payable extends for more than one year

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