Financial Statement Preparation Below is information for Hercules Corp for the year ending December 31, 2012:

Required: Prepare a multi-step income statement, statement of retained earnings, and classified balance sheet for the company. Use the Scantron 886-E pages to prepare your work.

$ 4,000 Current portion of notes payable Accounts Payable Dividends Insurance Expense Equipment Interest Payable Accounts Receivable Comm on Stock Cost of Goods Sold Rent Expense Sal aries Payable Sal es Revenue 3,500 18,000 10,000 4,600 17,500 2,000 2,400 2,500 42,000 3,000 Inventory 7,000 Retained earnings, January 1 Salaries Expense 81,500 300 Accumulated Depreciation 24,000 Prepaid Insurance 72,000 Interest Expense 50,000 Depreciation Ex pense 25,500 Cash 9,700 Long-tem Notes Payable (Noncurrent portion) 100,000 45,500