Prepare a Classified Balance Sheet, Multiple Step Income Statement, Statement of Owners Equity, and Show the Closing Entries:

Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Update x fx L9 G K o ON Cr. Dr. 27.625 31,450 2,850 64,980 13,600 150,000 46,000 + 16,865 325,000 48,125 15,000 2,700 12,500 A B D E 2 Cathy Capers, Inc. 3 Adjusted Trial Balance 4 December 31, 2020 5 6 7 8 Cash 9 Accounts Receivable 10 Allowance for Doubtful Accounts 11 Merchandise Inventory (beginning) 12 Prepaid Insurance 13 Land 14 Office Equipment 15 Accumulated Depreciation Office Equipment 16 Buildings 17 Accumulated Depreciation-Buildings 18 Timber 19 Accumulated Depletion-Timber 20 Patent 21 Accounts Payable 22 Salarles Payable 23 Interest Payable 24 Customer Refunds Payable 25 Uneamed Rent 26 Notes Payable 27 Capital, Cathy Capers 28 Cathy Capers, Drawings 29 Sales 30 Purchases 31 Purchases Retums and Allowances 32 Purchase Discounts 33 Freight-in 34 Bad Debt Expenso 35 Insurance Expense 36 interest Expense 37 Repairs and Maintenance Expense 38 Salaries Expense 39 Advertising Expenso 40 Depreciation Expense 41 Depletion Expense 42 Amortization Expense 43 Utilities Expense 44 Rent Revenue 45 46 47 48 Project + 29,650 6,200 1,500 6,150 2,000 320,000 151,200 5,200 512,800 310,200 3,000 5,750 1 4,500 2,670 1,600 21,800 7.500 36,750 5,700 11,815 1,200 4,000 13,200 i 3.500 1,112,290 1.112 290 Select destination and press ENTER or choose Paste 19 X fx C A B D E F G H U RUVETUSA Capens UTVU 40 Depreciation Expense 11,815 41 Depletion Expense 1,200 42 Amortization Expense 4,000 43 Utilities Expense 13,200 44 Rent Revenue 3,500 45 1.112 290 1.112,290 46 47 48 49 Other data: 50 (0) Inventory on hand at December 31, 2020 (0., onding inventory) is $ 87,652 (2) Bad Debt Expense, Insurance Exponse, Repairs and Maintenance Exponse, Depletion Expenso, Amortization Exponso, 51 and Utilities Expense are 100% administrative. 52 (3) Advertising Expense is 100% seling 53 (4) Depreciation Expense and Salaries Expense are 60% administrative and 40% selling 54 (5) Portion of Notes Payable payable in the next year. $ 20,000 55 (6) Cathy Capers contributions to the business in 2020 were $ 6,500 56 57 Instructions: Prepare a(n) 58 59 Points 60 Classified Balance Sheet 16 51 Multi-step Income Statement 15 62 Statement of Owner's Equity 8 63 Closing entries 64 65 Total 45 66 1 1 1 7