Question: Use the information in the adjusted trial balance reported in Exercise to prepare Webb Trucking Company's classified balance sheet as of December 31, 2011.
Exercise: Use the following adjusted trial balance of Webb Trucking Company to prepare the
(1) income statement and
(2) statement of owner's equity, for the year ended December 31, 2011. The K. Webb, Capital, account balance is $161,000 at December 31, 2010.
