Part 2: NOTE: This is a DIFFERENT COMPANY. Using the trial balance below, complete the Multi-Step Income Statement and prepare the Statement of Retained Earnings and Classified Balance Sheet on the pages which follow. To get full credit you must include all critical subtotals.

Multi Step Income Statement For the year ended December 31, 2017 (Be sure to include all the necessary headings, totals and subtotals as outlined in Chapter 5. You may not need to use all the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Income Statement, use the right column for subtotals and totals.)

Statement of Retained Earnings For the year ended December 31, 2017

Classified Balance Sheet December 31, 2017 (Be sure to include all the necessary subtotals and totals as outlined in Chapter 2. You may not need to use all of the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Balance Sheet, use the right column for subtotals and totals.)

Patricks Company Adjusted Trial Balance December 31, 2017 DEBIT 3,900 3,460 CREDIT 670 800 120 130 2,500 350 14,720 1,970 700 Cash Accounts Receivable Allowance for Doubtful Accounts Short term Note Receivable Interest Receivable Supplies Inventory Prepaid Expenses Equipment Accumulated Depreciation Copyrights Accounts Payable Interest Payable Unearned Revenue Long Term Note Payable Common Stock Paid-in-Capital In Excess of Par - CS Retained Earnings (1/1/15) Dividends Sales Sales Returns & Allowances Sales Discounts Cost of Goods Sold Bad debt expense Depreciation Expense Amortization Expense Wages Expense Rent Expense Office Expense Supplies Expense Selling Expense Interest Expense Interest Revenue Income Tax Expense Totals 670 20 50 1,400 5,600 800 2,160 600 46,800 40 60 21,600 30 770 70 8,000 500 80 100 800 200 150 760 60.290 60.290