Braun Company has the following ledger accounts and adjusted baland 2016. All accounts have normal balances. Braun's income tax rate is 40%. Braun has 300,000 Docember 31, shares of Common Stock authorized and 100,000 shares of Common Stock issued and outstanding. 26,000-B 180,000 Accounts Receivable iation-Building 50,000 Grba 400,000 BaA 400,000 ba 06 20,000- Re ..26,000-a A Dividends. d. Income from Operations of Division x.. 40,000 In Division X is a component of Braun Company) ...20,000 In Othax .280,000-Ba 70,000 Im Ghar funusual in nature and infrequent in occurrence) Loss from Sale of Division . 80,000 Ih Loss on Sale of Land.... Retained Earnings, January 1,2016..250,000- RE .. 10,000 n4 Two years rent paid in advance for offsite document storage. Instructions: Use this information to prepare a multiple-step income statement and a classified balance sheet. The statements MUST be handwritten. The project is due on Wednesday, July 5, 2017