Prepare a (1) multiple step income statement, (2) statement of owners' equity, (3) classified balance sheet, and (4) closing entry.

Cr. Dr. $31,000 $92,000 $20,000 $5,000 $9,000 $22,000 $20,000 $248,000 $94.000 $26,000 Cash Accounts Receivable Inventory (beginning) Estimated Returns Inventory Land Office equipment Accumulated Depreciation-equip. Building Accumulated Depreciation-Bldg. Patent Accounts Payable Customer Refunds Payable Interest Payable Unearned Revenue Notes Payable Capital Drawings Sales Purchases Purchases Returns and Allowances Purchase Discounts Freight-in Insurance Expense Interest Expense Repair Expense Salaries Expense Advertising Expense Depreciation Expense Utilities Expense $73,000 $2,000 $14,000 $22,000 $125,000 $80,000 $29,000 $206,600 $106,000 $1,000 $500 $300 $6,000 $8,000 $5,000 $17,600 $1,200 $11,000 $1,000 $638,100 $638,100