out of Account Title Sales revenue Salaries expense.. Accumulated depreciation Account payable Allowance for uncollectible accounts.. Debits Credits 1,155,000 180,000 390,000 120,000 15,000 255,000 Accounts receivable Shareholders' Capital. Cash 735,000 39,000 720,000 Cost of goods sold. Depreciation expense 90,000 Equipment 1,050,000 Interest expense.. 6.000 Inventory 225,000 Note payable (due in six months) 90,000 Rent expense... 45,000 Retained earnings 93,000 Salaries payable TOTALS 12,000 2,610.000 2.610.000 60,000 shares of common stock were outstanding throughout 2020. The income tax rate is 16% Required: 1- Prepare a multiple-step income statement for 2020, including EPS disclosure 2-Prepare a classified balance sheet for December 31, 2020