Module 2 Discussion Assignment Prepare multiple-step income statement, retained earnings statement and classified balance sheet using the information below. Note: all items must be used, and only once. 1,400 600 300 100 Cost of Goods Sold 10,000 RE-Beginning 19,920 Cash ST Investments 200 A/R 1,800 Div Unearned Revenue 900 A/P 2,000 Patents Building Rental Exp 900 Service Rev 17,000 Int/P Accum. Deprn 2,500 Supplies 4,000 Int Exp Prepaid Ins. 2,300 Goodwill 2,020 LT Debt Investment in XYZ Co. 5,300 Inventory 500 Equip Investment in Real Estate 2,000 Land 2,000 N/P due in 3 years Deferred Income Tax 300 Salaries/P Rent Rev Insurance Exp 500 N/R 1,000 Supplies Exp Deprn Exp 500 C.S. 10,000 Income Tax Exp. 200 Building 20,000 Current Maturities of Long-term Debt 3,000 Other Selling, General, and Admin Exp(including Salaries Exp, Repair Exp, Utility Exp) 100 10,000 16,000 5,000 1,000 200 300 200 Int: interest RE: Retained Earnings Deprn: Depriciation /P: Payable Div: Dividends Ins: Insurance /R: Receivable LT: Long-term EXP: Expense N: Notes ST: Short-term C.S.: Common Stock Rev: Revenue