The following information all pertains to the Able Company.

There were no items affecting comprehensive income except the ones that are reported in the income statement.
A. Prepare a multi-step income statement.
B. Prepare a statement of changes in shareholders’ equity.
C. Prepare an ending classified balance sheet.

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Cash 57,200 Accounts receivable 10,000 General expenses 9,400 Sales 69,000 Accounts payable 5,400 Interest payable 5,000 Cost of goods sold Prepaid assets Ending contributed capital 26,800 3,300 Beginning contributed capital Retained earnings 10,000 (part of equity) 9,000 14,000, end of year 72,800 Notes payable Selling expenses Inventory Equipment Tax expense Beginning Retained earnings Dividends Sales of company stock 18,000 6,500 30,200 5,000 10,200 6,000 1,000 (investments by owners)