The following information all pertains to the Baker 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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Accounts receivable 68,000 Accounts Payable 1,000 Bank loans payable (current) 30,000 Buybacks of company stock 4,000 Cash 82,600 Ending contributed capital 10,000 Beginning contributed capital 14,000 Cost of goods sold 310,000 Equipment, net of depreciation 124,200 Income tax expense 40,000