Instruction

1. Please prepare multi-step income statement and the asset side of classified balance sheet using the following information.

Retail Inc. provides car cleaning service to customers. For the year ended December 2022, the company reports the following amounts:

Supplies $4,500.00 Net Purchases $200,000.00 Beginning Inventory $50,000.00 Ending Inventory $30,000.00 Advertising Expense $3,500.00 Sales Returnsand Allowances $10,000.00 Accumulated Depreciation $12,000.00 Accounts Receivables $20,000.00 Land $34,000.00 Salaries expense $35,000.00 allowances for uncollectible $5,000.00 Depreciation expense $5,400.00 Cash $14,900.00 Sales Revenue $500,000.00 Interest Expense $2,500.00 Income tax Expense $76,600.00 Equipment $82,000.00 Bad Debt Expense $6,000.00 Interest Income $9,000.00

Section oa prtilien using the following irformation 2. Explain your wos to your peer nember and pet his or her sienanue conpary steports the flollowing arnourt Required: Peer Reviewer Name