I need to create a classified balance sheet and multiple-step income statment for both years.

This is the only information that was all that given.

Rachel Corporation was started with an initial cash investment of $20,000. No new stock has been issued or repurchased since its inception. You are presented with the following accounts for Rachel for the two most recent years: 2016 2015 2016 2015 Net Sales 400 350 180 130 Retained earnings 140 125 Inventory 118 Cost of Goods Sold 85 Tax expense 55 50 40 35 Operating expenses 50 0 67 45 Long-term debt Accounts payable 1 15 o Allowance for 2 doubtful accounts Interest expense Cash 25 5 8 5 Long-term deferred taxes 45 200 100 Depreciation 50 expense Plant and equipment (net) 25 0 7 10 Short-term notes payable Accounts receivable (net) Rachel Corporation was started with an initial cash investment of $20,000. No new stock has been issued or repurchased since its inception. You are presented with the following accounts for Rachel for the two most recent years: 2016 2015 2016 2015 Net Sales 400 350 180 130 Retained earnings 140 125 Inventory 118 85 Cost of Goods Sold 55 50 Tax expense 40 35 Operating expenses 500 67 45 Long-term debt Accounts payable 1 15 0 Allowance for 2 doubtful accounts Interest expense Cash 25 5 8 5 Long-term deferred taxes 45 200 100 Depreciation 50 expense Plant and equipment (net) 25 0 7 10 Short-term notes payable Accounts receivable (net) 1. Prepare a multiple-step income statement for both 2016 and 2015. 2. Prepare a classified balance sheet for both 2016 and 2015