Below information pertains to Eller Equipment Company for the year 2018. (Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated.)

Salaries expense	$	112,000			Beginning retained earnings	$	51,100
Common stock		100,000			Warranties payable (short term)		5,500
Notes receivable (short term)		22,500			Gain on sale of equipment		16,000
Allowance for doubtful accounts		24,000			Operating expenses		55,000
Accumulated depreciation		56,000			Cash flow from investing activities		106,000
Notes payable (long term)		91,000			Prepaid rent		28,000
Salvage value of building		11,000			Land		85,000
Interest payable (short term)		6,000			Cash		63,000
Uncollectible accounts expense		35,000			Inventory		112,000
Supplies		5,500			Accounts payable		45,000
Equipment		165,000			Interest Expense		26,000
Interest revenue		5,200			Salaries payable		58,000
Sales revenue		920,000			Unearned revenue		37,000
Dividends		10,000			Cost of goods sold		585,000
Warranty expense		8,200			Accounts receivable		98,000
Interest receivable (short term)		2,600			Depreciation expense		2,000

Required

Prepare a multistep income statement for Eller Equipment Company for 2018.

Prepare a classified balance sheet for Eller Equipment Company for 2018.

BALANCE SHEET

ELLER EQUIPMENT COMPANY Multistep Income Statement For the Year Ended December 31, 2018 Operating expenses Total operating expenses 0 Non-operating Items Total non-operating items 0 ELLER EQUIPMENT COMPANY Balance Sheet As of December 31, 2018 Assets Current assets 0 $ 0 Total current assets Property, plant and equipment 0 $ 0 Total property, plant and equipment Total assets Liabilities Current liabilities $ Total current liabilities Long-term liabilities 0 Total long-term liabilities Total liabilities Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity 0 ELLER EQUIPMENT COMPANY Multistep Income Statement For the Year Ended December 31, 2018 Operating expenses Total operating expenses 0 Non-operating Items Total non-operating items 0 ELLER EQUIPMENT COMPANY Balance Sheet As of December 31, 2018 Assets Current assets 0 $ 0 Total current assets Property, plant and equipment 0 $ 0 Total property, plant and equipment Total assets Liabilities Current liabilities $ Total current liabilities Long-term liabilities 0 Total long-term liabilities Total liabilities Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity 0