McDonald Marina provides docking and cleaning services for pleasure boats at its marina in southern Florida. The following account balances are available:

Accounts payable$ 26,400Interest expense$ 237,000Accounts receivable268,700Interest payable17,000Accumulated depreciation (building)63,900Land876,000Accumulated depreciation (equipment)950,600Rent expense14,800Bonds payable (due 2024)2,000,000Rent payable2,400Building197,400Retained earnings, 12/31/2018111,000Cash22,400Service revenue (cleaning)472,200Common stock (40,000 shares)600,000Service revenue (docking)1,460,000Depreciation expense (building)21,300Supplies9,600Depreciation expense (equipment)246,500Supplies expense89,300Dividends25,200Utilities expense239,600Equipment2,470,000Wages expense985,300Income taxes expense21,800Wages payable21,400

Required:

1. Prepare a single-step income statement, a retained earnings statement, and a classified balance sheet for the year ended December 31, 2019.2. Conceptual Connection: How would a multiple-step income statement be different from the single-step income statement you prepared for McDonald Marina?