Prepare a multiple-step income statement, a statement of owners equity, and a classified balance sheet in good form.

David's Entertainmentis a merchandising business. Theiraccount bslancesss of November30, 2012 (unless otherwise indicated), are asfollows: 110 Cssh 112. Accounts Receivable 113 Allowance for Doubtful Account 115 Merchandise Inventory 116 Prepaid Insurance 117 Store Supplies 123 Store Equipment 124 Accumulated Deprecistion-Store Equipment 210 Accounts Paysble 211 Salaries Paysble 218 Interest Payable 220 Note Payable (Due 2017) 310 D. Wiliams, Capitl (Janusry 1,2012) 311 D. Willisms, Drawing 312 Income Summary 410 Ssles 411 Sales Returns and Allowances 412 Ssles Discounts 510 Cost of Merchandise Sold 520 Ssles Salsries Expense 521 Advertising Expense 522 Depreciation Expense 523 Store Supplies Expense 529 Miscellaneous Selling Expense 530 Office Salaries Expense 531 Rent Expense 532 Insurance Expense 533 Bad Debt Expense 539 Miscellaneous Administrstive Expense 550 Interest Expense 5 73,920 34,250 11,000 123,900 3,750 2,850 100,800 20,160 21,450 15,000 73,260 50,000 853,445 20,020 13,200 414,575 74,400 18,000 2,800 40,500 18,50 1,650 1,100 David's Entertainmentuses the perpetusl inventory system and the First-in, First-out costing method. Transportation-in and purchase discounts should be added to the Inventory Control Sheet butsince this will complicate thecomputation of the First-in, First-out costing method, plesse ignore this step in the prooess. They also use the Allowance Method for bad debt. The Accounts Receivsble and Accounts Paysble Subsidiary Ledgers alongwith the Inventory Control Sheetshould beupdsted asesch transsction affects them (daiy). David's Entertainment sells four types of televisionentertainment units