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Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to Ashton Appliances for the current year. Required: 1. Prepare a single-step income statement. Ashton Appliances Income Statement For the year ending December 31 Revenues: Expenses: Total expenses Net income Prepare a retained earnings statement. Prepare a properly classified balance sheet as of December 31 . Ashton Appliances Balance Sheet December 31 Assets Current assets: Total current assets Property, plant, and equipment: Furniture, net Total property, plant, and equipment Total assets Liabilities Current liabilities: Liabilities Current liabilities: Total current liabilities Long-term liabilities: Stockholders' Equity. Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity 2. Prepare a multiple-step income statement. Ashton Appliances Income Statement For the year ending December 31 Operating expenses: Total operating expenses Income from operations Other income and expenses: Income before income taxes Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to Ashton Appliances for the current year. Required: 1. Prepare a single-step income statement. Ashton Appliances Income Statement For the year ending December 31 Revenues: Expenses: Total expenses Net income Prepare a retained earnings statement. Prepare a properly classified balance sheet as of December 31 . Ashton Appliances Balance Sheet December 31 Assets Current assets: Total current assets Property, plant, and equipment: Furniture, net Total property, plant, and equipment Total assets Liabilities Current liabilities: Liabilities Current liabilities: Total current liabilities Long-term liabilities: Stockholders' Equity. Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity 2. Prepare a multiple-step income statement. Ashton Appliances Income Statement For the year ending December 31 Operating expenses: Total operating expenses Income from operations Other income and expenses: Income before income taxes