Given the following data, prepare a set of financial statements including Income statement, balance sheet and statement of cash flows.

Whoopie Company adjusted account balances as of the year end, $2010$ are as follows $($some noted balances are Jan. $1,2011,$ in thousands$)$:

Sales $.......................\mathrm{.}1,200,000$

Purchases $......................810,000$

Marketable securities $................15,000$

Purchase returns and allowances $...........2,000$

Extraordinary loss due to earthquake, net of

applicable taxes of $$12,000............28,000$

Selling expenses $..................114,000$

Cash $........................87,000$

Accounts receivable $.................60,000$

Common stock $....................150,000$

Accumulated depreciation $..............42,000$

Paid$-$in$-$capital in excess of par $..........30,000$

Inventory, January $1,2010.............149,000$

Inventory, December $31,2010............120,000$

Accounts payable $..................68,000$

Salaries payable $..................5,000$

Long Term Debt. $.................36,400$

Cash surrender value of life insurance $($other assets. $22,000$

Patents $.......................18,000$

Retained earnings, January $1,2010.........60,600$

Interest expense $..................13,000$

Cumulative effect of change in depreciation methods,

net of applicable taxes of $$3,000.........7,000$

General and administrative expenses $.........160,000$

Allowance for doubtful accounts $...........3,000$

Notes payable $($maturity $7/1/13)...........87,000$

Machinery and equipment $...............150,000$

Income tax expense $.................30,600$

Treasury stock $...................10,000$

Dividends declared and paid $.............8,000$

Prepare multi$-$step income statement, statement of retained earnings and classified balance sheet: