Prepare a year end multi step income statement and a classified balance sheet:

Cash 6000

Equipment 45000

Administrative expenses 23000

Accumulated depreciation 30000

Cost of merchandise sold 30000

Common stock 15000

Interesting expense 500

Rent Revenue 12000

Unearned fees 400

Supplies 450

Prepaid insurance 500

Accounst Receivable 4500

Bonds payable 10000

Sales 84000

Selling expenses 2000

Retained earnings 1050