Multistep income statement and classified balance sheet

Required

Use the following information to prepare a multistep income statement and a classified balance sheet for Douglas Company for2012.

Transcribed Image Text:

Other operating expenses Land Accumulated depreciation Accounts payable Unearned revenue Warranties payable (short term) Equipment Notes payable (long term) Salvage value of equipment Dividends Warranty expense Beginning retained earnings Interest revenue Gain on sale of equipment Inventory Notes receivable (short term) S 23,000 800 102,000 7,000 3,000 500,000 14,000 32,000 113,000 12,000 3,000 14,000 52,000 179,000 122,000 S 90,000 Cash 50,000 Interest receivable (short term) 38,000 Cash flow from investing activities 60,000 Allowance for doubtful accounts 58,000 Interest payable (short term) 2,000 Sales revenue 77,000 Uncollectible accounts expense 129,000 Interest expense 7,000 Accounts receivable 12,000 Salaries payable 5,000 Supplies 28,800 Prepaid rent 6,000 Common stock 10,000 Cost of goods sold 154,000 Salaries expense 17,000