Accounts Payable................................ $$51,000$

Interest Payable....................... $2,800$

Accounts Receivable........................... $107,500$

Interest Revenue...................... $600$

Accumulated Amortization$$Equipment$.......96,900$

Inventory, May $31,2020..........147,100$

C$.$ Marchand, Capital.......................... $167,800$

Notes Payable, Long$-$Term..... $114,800$

C$.$ Marchand, Withdrawals................ $66,900$

Salaries Payable....................... $7,200$

Cash....................................................... $19,900$

Sales Discounts........................ $26,500$

Cost of Goods Sold.............................. $1,086,900$

Sales Returns and Allowances..................... $45,900$

Equipment............................................ $340,800$

Sales Revenue.......................... $1,991,500$

General Expenses................................ $206,800$

Selling Expenses...................... $357,200$

Interest Expense.................................. $9,200$

Supplies.................................... $33,100$

Unearned Sales Revenue........ $15,200$

Required

$1.$ Prepare the business$$s single$-$step income statement for the year ended

May $31,2020.$ Show Net Sales Revenue and not the individual accounts.

$2.$ Prepare the statement of owner$$s equity for the year ended May $31,2020.$

$3.$ Prepare Marchand Distributors$$ classified balance sheet in report format at

May $31,2020.$