ABC Corporation is in its first year of operations, and has the following adjusted trial balance, as of December 31, 2018.
ABC Corporation is a T-shirt manufacturer that rents out a multi-use space for all your needs.
Accounts payable	$ 1,200
accounts receivable	$ 3,500
Accumulated Depreciation - Machinery and Equipment	$ (1,625)
Accumulated Depreciation - Office Equipment	$ (1,400)
Money	$ 10,400
Common actions	$ 10,000
cost of goods sold	$ 60,000
depreciation expense	$ 3,025
Interest expenses	$ 640
interest to pay	$ 640
Inventory	$ 7,500
Machinery and equipment	$ 13,000
Marketing expenses	$ 3,000
Pay	$ 8,000
Office team	$ 4,200
Retained earnings	ps
salary expenses	$ 22,000
Salaries to pay	$ 600
sales revenue	$ 125,000
supplies	$ 1,000
Supply expenses	$ 8,200
Public service spending	$ 12,000
Prepare a multi-step income statement for the year ended December 31, 2018 for ABC Corporation.
Prepare a classified balance sheet as of December 31, 2019 for ABC Corporation.
Comment on the financial results of this company.

ABC Corporation
Statement of income
For the year ended December 31, 2018
Any less:
Gross profit
Less operating expenses:
Operating Income
Less other expenses:
Net income (loss)
Student, please fill in all the highlighted spaces.

ABC Corporation
Balance sheet
As of December 31, 2018
Assets
Current assets:
Total current assets
Long-term assets:
total assets
Liabilities and Equity
current liabilities:
Long term passives:
Full responsibility:
Equity:
Total liabilities and stockholders' equity
Student, please fill in all the highlighted spaces.