Just 4 Kids Ltd sells children's accessories and clothing. At the end of December 2020, it had the following adjusted account balances, which are listed in random order:

Cash	Unknown $
Wages Payable	500
Supplies Expense	4,200
Equipment	23,000
Wages Expense	25,000
Prepaid Rent	400
Cost of Goods Sold	52,000
Sales Revenue	166,450
Accounts Receivable	10,000
Allowance doubtful account	2, 000
Rent Expense	4,800
Bank Loan Payable	23,800
Advertising Expense	750
Accounts Payable	5,000
Utilities Expense	600
Dividends payable (declared during the year)	1,200
Depreciation Expense	500
Common Shares	20,000
Telephone Expense	200
Interest Expense	300
Accumulated Depreciation, Equipment	15,000
Retained Earnings, Jan 1	17,600
Inventory cost Inventory mkt value	8,000 7,000
Repairs and Maintenance Expenses	400
Supplies	800
Interest Payable	300
Unearned revenue	3 000
Temporary Investment	10,000
Treasury bills due in 70 days	15,000
Gain on sale of fixed assets	6,000
Income tax expense	8,000
Patents	10 000

a) Prepare a multiple step income statement for the year ended December 31, 2020

b) Prepare the Retained Earnings section in good format at the end of 2020

c) Prepare a classified statement of financial position as at December 31, 2020.

Assume that $18,800 of the balance of the bank loan payable is due on January 1, 2021.