Question 1 a. Prepare a multiple step income statement for Calypso Company for the year ended December 31, 2020 from the following information (6 marks) b. Prepare a Classified Balance Sheet as at December 31, 2020 from the following information. (10 marks) c. What can you say about this company based on this information? Hint: what type of company is it?, what is the form of business?, how old is it? (4 marks) Accounts Receivable Cash Allowance for doubtful accounts Prepaid insurance Inventory Depreciation expense Selling and admin expenses Interest expense Cost of Goods Sold Salaries expense Goodwill Accounts Payable Notes Payable (47,000 due this year) Unearned Revenue Ships Accumulated Depreciation - ships Service revenue Sales revenue Sales returns and allowances Common Shares Retained Earnings (January 1, 2020) 34,000 CA 25,000 CA 13,000 CA 7,000 CA 12,000 CA 18,000 E 41,000 E 9,000 E 28,000 E 75,000 E 50,000IA 5,000 L 76,000 L 43,000 L 2,70,000 PPE 45,000 PPE 2,80,000 R 44,000 R 5,000 R 50,000 SE 18,000 SE