E41A. Preparing a Classified Balance Sheet From the following accounts, listed in alphabetical order, prepare a classified balance sheet for Berkly Wholesalers as of December 31, 2016. All accounts have normal balances.

Accounts payable ....................... $46,000 Inventory............................$117,000

Accounts Receivable.................... 40,000 Land.................................. 45,000

Building....................................... 67,000 Mortgage payable (long term) 79,000

Cash.......................................... 28,000 Office supplies...................... 1,000

Common Stock.............................113,000 Retained earnings ?

Salaries Payable......................7,000

E42A. Multi-step Income Statement From the following accounts, listed in alphabetical order, prepare a multi-step income statement for Karlman Distributors for the year ended December 31. All accounts have normal balances.

Selling, general and administrative expense . . . .	$196,000	Sales revenue. . . . . . . . . . ..	$560,000
Cost of goods sold. . . . .. . . . . . . . . . .. . .. . .. .	335,000	Income tax expense . . . . . . .	10,000
Interest expense . . . . . . . . . . . . . . .. . . . . . . . . . .	5,000