Prepare a multistep income statement for Chun Equipment Co. for 2018.

Salaries expense$41,200

Interest receivable (short term)$2,100

Common stock 90,000

Beginning retained earnings 120,100

Notes receivable (short term) 15,000

Operating expenses 45,000

Allowance for doubtful accounts 6,500

Cash flow from investing activities (91,600)

Accumulated depreciation 12,000

Prepaid rent 16,100

Notes payable (long term) 26,000

Land 35,000

Salvage value of equipment 6,000

Cash 26,700

Interest payable (short term) 1,900

Inventory 105,000

Uncollectible accounts expense 9,600

Accounts payable 48,000

Supplies 14,500

Interest expense 1,300

Office equipment 57,000

Salaries payable 14,500

Interest revenue 2,000

Unearned revenue 42,000

Sales revenue 340,000

Cost of goods sold 225,000

Dividends 10,000

Accounts receivable 92,000

Rent expense 7,500