PROBLEM 1 15 points Following is the trial balance for Coates Corpration on 12/31/2020 Cash $ Accounts Receivable Allowance for Doubtful Accounts Prepaid Rent Inventory Equipment Accumulated Depreciation - Equipment Building Accumulated Depreciation - Building Unearned Revenue Accounts Payable Salaries Payable Common Stock, $0.1 par, 1 million shares authorized, 700,000 issued and outstanding Retained Earnings Dividends Sales Cost of Goods Sold Salaries Expense Bad Debt Expense Rent Expense Insurance Expense Depreciation Expense - Equipment Depreciation Expense - Building Loss on sale of equipment 42,000 67,500 15,000 100,000 60,000 90,000 23,500 185,000 50,000 10,500 20,000 18,000 2,000 5,000 10,000 698,500 $ $ 5,000 30,000 9,000 25,000 18,000 4,000 70,000 187,500 350,000 698,500 REQUIRED - Prepare a multiple-step income statement, statement of retained earnings, and classified balance sheet in proper form