Elaine, Inc December 31, 2017 Adjusted Trial balance ash Accounts Receivable Allowance for Doubtful Accounts Debit Credit 45,000 38,900 hort Term Note Receivable Interest Receivable upplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable 1,350 5,000 50,000 500 16,000 39,000 15,000 14,000 nearned Revenue Wages Payable Long-Term Notes Payable 50,000 110,000 500 ommon Stock Retained Earnings (1/1/2017) Dividends Sales Sales Returns & Allowances Sales Discounts 519,500 10,000 ost of Goods Sold Delivery Expense Depreciation Expense Bad Debt Expense Rent Expense nsurance Expense Wages Expense Supplies Expense Interest Revenue Loss on Disposal Interest Expense ncome Tax Expense Tota 55,500 5,000 19,000 600 100,000 25,000 195,000 16,000 350 7,000 4,500 40,000 736,350 736,35 Part 2a: Prepare a Multi-step Income Statement (Be sure to include all the necessary headings, totals and subtotals as outlined in Chapter 5. You may not need to use all the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Income Statement, use the right column for subtotals and totals.) Inc. Income Statement Year Ended Dec. 31, 2017 Part 2b: Prepare a Statement of Retained Earnings. Inc. Statement of Retained Earnings Year Ended Dec. 31, 2017 4 Part 2c: Prepare a Classified Balance Sheet (Be sure to include all the necessary subtotals and totals as outlined in Chapter 2. You may not need to use allof the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On t Balance Sheet, use the right column for subtotals and totals.) , Inc. Balance Sheet As of Dec. 31, 2017