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  3. the following items are taken from the financial s

The following items are taken from the financial statements of Maroon Company for 2020: Accounts...

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Accounting

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The following items are taken from the financial statements of Maroon Company for 2020: Accounts payable Accounts receivable Accumulated depreciation, equipment Advertising expense Cash Capital, additional Depreciation expense Withdrawals Equipment Insurance expense Notes payable (due 2023) Prepaid insurance Rent expense Capital, beginning Salaries and wages expense Salaries and wages payable Service revenue Supplies Supplies expense Required $ 10,000 11,000 38,000 21,000 14,000 90,000 12,000 15,000 210,000 3,000 70,000 6,000 17,000 12,000 34,000 3,000 130,000 4,000 6,000 a) Prepare in good form a single-step Income statement b) Prepare in good form a Statement of changes in equity c) Prepare a Classified balance sheet for Maroon Company at December 31, 2020, assuming the note payable is a long-term liability

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