An alphabetical list of Orioles Company adjusted accounts at its fiscal year end, August 31, 2021, follows. All accounts have normal balances.

Accounts payable		$15,580		Notes payable		$42,000
Accumulated depreciationequipment		14,000		Prepaid insurance		575
Accumulated depreciationfurniture		17,500		R. Smistad, capital		65,750
Cash		33,500		R. Smistad, drawings		70,000
Cost of goods sold		271,600		Rent expense		24,700
Depreciation expense		7,000		Salaries expense		50,200
Equipment		35,000		Salaries payable		2,250
Furniture		42,000		Sales		474,000
Insurance expense		3,575		Sales returns and allowances		16,300
Interest expense		2,170		Supplies		950
Interest payable		565		Supplies expense		6,325
Merchandise inventory		70,350		Unearned revenue		2,600

Additional information: 1. Of the notes payable, $6,900 becomes due on February 17, 2022. The balance is due in 2023. 2. On July 18, 2021, R. Smistad invested $3,500 cash in the business.

Prepare a multiple-step income statement.

Prepare a statement of owners equity. Prepare a classified balance sheet. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Equipment and Furniture.)

Prepare Liabilities and Owner's Equity