Q$3)$ Using the data below, prepare a multiple$-$step income statement for The Company for $2024$

and a classified balance sheet in good form for The Company as of December $31,2024.$

$($Income Statement, $8$ Marks; Balance Sheet, $8$ Marks$)($each mistake or missing item will get $-$

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Q$3)$ Using the data below, prepare a multiple$-$step income statement for The Company for $2024$ and a classified balance sheet in good form for The Company as of December $31,2024.$

$($Income Statement, $8$ Marks; Balance Sheet, $8$ Marks$)($each mistake or missing item will get $1)$

$\backslash$table$[[$The Company$],[31-$Dec$-24,,],[$Accounts$,\backslash$table$[[$Debit$],[$Balance$]],\backslash$table$[[$Credit$],[$Balance$]]],[\backslash$table$[[$Accumulated Depreciation$-],[$Equipment$]],,25,000],[$Depreciation Expense$-$Equipment,$12,500,],[$Allowance for Doubtful Accounts,,$200],[$Utility Expense,$8,500,],[$Cash$,5,500,],[$Accounts Payable,,$3,600],[$Discount on Bonds Payable,$4,000,],[$Rent Expense,$13,000,],[$Utilities Payable,,$1,500],[$Supplies$,2,300,],[$Supplies Expense,$9,400,],[$Accounts Receivable,$5,000,],[$Salaries Payable,,$3,500],[$Salaries Expens$,32,000,],[$Sales Revenue,,$180,000],[$Inventories$,15,000,],[$Common Stock,,$60,000],[$Accumulated Depreciation$-$Building,,$12,000],[$Depreciation Expense$-$Building,$4,000,]]$

$3$

$\backslash$table$[[$Sales Returns,$1,500,],[$Notes Payable $($due in $4$ years$),,20,000],[$Bad Debt Expense,$150,],[$Interest Expense,$6,650,],[$Bonds Payable $($due in $9$ years$),,80,000],[$Equipment$,125,000,],[$Prepaid Rent,$6,500,],[$Sales Allowances,$3,500,],[$Building$,200,000,],[$Cost of Goods Sold,$111,800,],[$Retained Earnings,,$180,500],[$Total$,566,300,566,300]]$