The following amounts appeared on Plymouth Electronics€™ adjusted trial balance as of December 31, 2017.

Required
1. Prepare a 2017 classified, multiple-step income statement for Plymouth Electronics, like Exhibit 5.13. 

2. Prepare a single-step income statement, like Exhibit 5.15.
Analysis Component: The gross profit ratio for Plymouth Electronics€™ year ended December 31, 2016, was 32%. Calculate this ratio for the year ended December 31, 2017, and compare it to the prior year, commenting on whether the change was favourable or unfavourable.

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Credit Debit Merchandise inventory $ 19,500 487,785 Other assets... $ 312,370 Liabilities...... Celine Plymouth, capital . 247,605 Celine Plymouth, withdrawals. 67,000 Sales .. 942,000 Sales discounts... 14,580 Sales returns and allowances 5,715 Interest income.... 720 Cost of goods sold.. 719,000 Sales salaries expense. 79,200 Office salaries expense... 56,500 Rent expense, selling space Rent expense, office space.. Store supplies expense . Office supplies expense ... 33,000 3,000 1,620 735 Depreciation expense, store equipment.. 8,910 2,760 Depreciation expense, office equipment Insurance expense.... 3,390 Totals.. . $1,502,695 $1,502,695