McDonald Boat Company sells pleasure boats in southern Florida. The following account balances are available $26,600 Interest expense Interest payable 268 600 $99 300 17,000 875,000 65.100 Land Accounts payable Accounts receivable Accumulated depreciation (building) Acumulated depreciation (equipment) Bonds payable (due in 5 years) Building 950 400 Rent expense 14,500 2,000,000 Rent payable 2,300 197 200 Retained earnings, Jan 1 128,300 Cash 22.100 Sales revenue 1,912,300 9,700 89.100 Common stock (40,000 shares) Cost of goods sold Depreciation expense (building) Depreciation expense (equipment) Dividends Equipment 600,000 Supplies 987 600 Supplies expense 21,700 Utilities expense 146,500 Wages expense 00 Wages payable 131,200 324,100 21,500 2,490,000 Income taxes expense 21,600 O. 1. Prepare a single-step income statement, a retained earrings statement, and a classified balance sheet for the year ended December 31 2. Prepare a multiple step income statement. 3. Conceptual Connection: How would a multiple step income statement be different from the single-step income statement you prepared for McDonald Boat Company