Prepare a single-step income statement and a classified balance sheet for the year ended December 31. Accounts payable Accounts receivable Accumulated depreciation (equipment) Cash Common stock (20,000 shares) Depreciation expense (equipment) Dividends Equipment Income taxes expense Income taxes payable Interest expense Interest income $17,000 39,100 42,300 8,000 100,000 12,500 6,100 270,700 2,600 1,000 21,000 4,500 Interest payable Inventory (repair parts) Investments (long term) Notes payable (due in 7 years) Prepaid rent (3 months) Rent expense Retained earnings, Dec. 31 Service revenue (parking) Service revenue (repair) Supplies expense (repair parts) Wages expense Wages payable $5,200 6,200 35,100 170,000 27,300 102,900 38,500 232,800 198,300 36,700 247,400 12,400