An alphabetical list of Pharoahs Company adjusted accounts at its fiscal year end, August 31, 2021, follows All accounts have normal balances Accounts payable $15,560 Notes payable $42,000 Accumulated depreciationequipment 14,000 Prepaid insurance 575 Accumulated depreciationfurniture 17,500 R Smistad, capital 65,750 Cash 15,940 R Smistad, drawings 79,000 Cost of goods sold 272,300 Rent expense 24,200 Depreciation expense 7,090 Salaries expense 50,000 Equipment 35,000 Salaries payable 2,250 Furniture 42,000 Sales 466,000 Insurance expense 3,575 Sales returns and allowances 16,300 Interest expense 2,180 Supplies 950 Interest payable 525 Supplies expense 6,325 Merchandise inventory 70,750 Unearned revenue 2,600 Additional information 1 Of the notes payable, $6,800 becomes due on February 17, 2022 The balance is due in 2023 2 On July 18, 2021, R Smistad invested $4,000 cash in the business 3 Prepare a multiple step income statement (Enter negative amounts using either a negative sign preceding the number e g 45 or parentheses e g (45) ) 4 Prepare a classified balance sheet (List Current Assets in order of liquidity List Property, Plant and Equipment in order of Equipment and Furniture )

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An alphabetical list of Pharoahs Company adjusted accounts at its fiscal year end, August 31, 2021, follows. All accounts have normal balances. Accounts payable $15,560

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

Accounts payable	$15,560	Notes payable	$42,000
Accumulated depreciationequipment	14,000	Prepaid insurance	575
Accumulated depreciationfurniture	17,500	R. Smistad, capital	65,750
Cash	15,940	R. Smistad, drawings	79,000
Cost of goods sold	272,300	Rent expense	24,200
Depreciation expense	7,090	Salaries expense	50,000
Equipment	35,000	Salaries payable	2,250
Furniture	42,000	Sales	466,000
Insurance expense	3,575	Sales returns and allowances	16,300
Interest expense	2,180	Supplies	950
Interest payable	525	Supplies expense	6,325
Merchandise inventory	70,750	Unearned revenue	2,600

Additional information: 1. Of the notes payable, $6,800 becomes due on February 17, 2022. The balance is due in 2023. 2. On July 18, 2021, R. Smistad invested $4,000 cash in the business.

3. Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

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