An alphabetical list of Blossom Company adjusted accounts at its fiscal year end, August 31, 2024, follows. All accounts have normal balances. Accounts payable Accumulated depreciation-equipment Accumulated depreciation-furniture Cash Cost of goods sold Depreciation expense Equipment Furniture Insurance expense Interest expense Interest payable Merchandise inventory $15,500 14,000 17,500 23,945 270,435 7,000 35,000 42,000 3,575 2,970 525 70,350 Notes payable Prepaid insurance R. Smith, capital R. Smith, drawings Rent expense Salaries expense Salaries payable Sales Sales returns and allowances Supplies Supplies expense Unearned revenue $42,000 575 65,750 70,000 24,000 50,000 2,250 465,000 18,000 950 6,325 2,600

An alphabetical list of Blossom Company adjusted accounts at its fiscal year end, August 31, 2024, follows. All accounts have normal balances. Additional information: 1. Of the notes payable, $6,000 becomes due on February 17, 2025. The balance is due in 2026 2. On July 18,2024,R.5 mith invested $3,500 cash in the business. Prepare a multiple-step income statement. (Enter nesathe amounts using either a nequtive sian pveceding the number es. -45 or porentheses e.g (45). Prepare a statement of owner's equity. (List item that increases Owner's Equity first.) Prepare a classified balance sheet. (List Current Assets in order of fiquidity. List Property, Plant, and Equipment in order of Equipment and Furniture.)