4 Use the following information to prepare a multi-step income statement and a balance sheet for Sherman Equipment Co. for Year 2 Hint Some of the items will not appear on ether statement, and ending retained earnings must be calculated.) (Balance Sheet only 74,000 Operating Expenses 100,ee0 Cash Flou from Investing Activities 3,400 Common Stock Sotes Receivable (short tera) Allowance for Doubtful Accounts Uncellectible Accounts Expense Supplies 29,000 Prepaid Rent 8,300 Land 8,600 Cash 45,099 5,900 Accounts Payable 17,000 151,000 349,000 Salaries Payable 4,000 Cost of Goods Sold 2,e0 Accounts Receivable egiming Retained Earnings 83, 580 income Statement Opeaing Expenses 4 SHERMAN EQUIPMENT Co Income Statement For the Year Ending December 31, Year 2 points eBook Print References Operating Expenses Total Operating Expenses Non-Operating Items 4 SHERMAN EQUIPMENT CO Balance Sheet As of December 31, Year 2 Assets points eBook Print References Total assets Liabilities and Stockholders' Equity Current Liabilities Total Liabilities Stockholders'Equity 4 4 points eBook Print References Total assets Liabilities and Stockholders' Equity Current Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity