Part $2$: Use the financial information provided below to Prepare a Multi$-$Step Income Statement, Statement of Retained Earnings, Classified Balance Sheet and Statement of Cash Flows. Use the provided excel template to complete.

Cash $$26,820$

Accounts Payable $$13,190$

Salary Expense $$8,160$

Prepaid Rent $$3,600$

Payroll Tax Expense $$830$

Land $$31,850$

Advertising Expense $$1,800$

Notes Payable $$31,335$

Service Revenue $$14,500$

Equipment $$6,330$

Utilities Expense $$2,250$

Common Stock $$23,450$

Accounts Receivable $$4,240$

Unearned Revenue $$4,120$

Patent $$23,500$

Beginning Retained Earnings $$12,425$

Cost of Goods Sold $$26,425$

Rent Expense $$1,200$

Income Tax Expense $$1,935$

Dividends $$3,150$

Sales Revenue $$38,500$

Supplies $$3,960$

Prepaid Insurance $$1,830$

Preferred Stock $$10,090$

Salary Payable $$3,450$

Supply Expense $$3,180$

Cash inflow from operating $ $44,830$

Cash outflow from operating $ $31,250$

Cash inflows from investing $ $16,240$

Cash outflows from investing $ $5,189$

Cash inflows from financing $ $2,860$

Cash outflows from financing $ $671$