Part A - Using the trial balance provided below, prepare the following: 1. Multiple-Step Income Statement (4 points) 2. Retained Earnings Statement (1 points) 3. Classified Balance Sheet (10 points) Part B - Using the financial information provided (see page 2), prepare the Statement of Cash Flows (10 points). Note: Part B is UNRELATED to Part A. Part A - Trial Balance $ Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Trading Securities (cost $ 145,000 > Equipment Accumulated De perciation Equipment Building Accumulated De perciation Building Land Franchises Patents Debt Investments (long term) Equity Investments (long term) Accounts Payable Salaries and Wages Payable Notes Payable (short term) Dividends Payable Accrued Liabilities Notes Payable (long term) Bonds Payable Common Stock, Par $ 5.00 APIC Treasury Stock Retained Earnings Dividends Declared Sales Revenue Sales Discounts Sales Returns and Allowances COGS Selling Expenses Administrative Expenses Loss due to storm damage Rent Revenue Gain on sale of equipment Income Tax Expense Useh Tele Solutions, Inc. Trial Balance December 31, 2019 Debit Credit 652,000 850, 210 $ 25,000 1,586,000 153,000 622,790 60,000 1,040,000 152,000 260,000 250,000 405,000 650,000 350,000 725,000 18,000 177,000 250,000 125,000 1,325,000 1,500,000 1,000,000 80,000 225.000 715,000 500,000 11,555,000 55,000 40,000 6,180,000 2,250,000 1,100,000 238,000 110,000 15,000 425,000 17,832,000 $ 17,832,000 $ Part B - Using the financial information provided below, prepare the Statement of Cash Flows. Xiong Corporation Cash Accounts Receivable Equipment Accumulated Depreciation - Equipment 12/31/2017 $ 8,550,000 $ 1,100,000 $ 1,750,000 $ (650,000) $10,750,000 1/1/2017 $ 6,575,000 $ 1,550,000 $ 1,450,000 $ (415,000) $ 9,160,000 Accounts Payable Common Stock Retained Earnings $ 1,250,000 $ 1,150,000 $ 8,350,000 $10,750,000 $ $ $ $ 955,000 1,150,000 7,055,000 9,160,000 $ $ Other Information Net income reported $ 1,495,000 Dividends paid $ 200,000 New Equipment was puchased and none was sold. Required: 1. Prepare the statement of cash flows for the year 2017