QUESTION 1 Metropolitan Industries [A All the accounts have normal balances. Dollar amount are in millions Presented below is the December 31, 2018 adjusted trial balance for Metropolitan Industries. of dollars. CREDITS DEBITS ACCOUNTS $179.3 Cash 422.7 Accounts receivable (net) 9.7 Trading securities (Fair Value) 466.4 Merchandise inventories (LIFO) 34.6 Supplies 70.0 Prepaid Insurances 30.6 Prepaid Rent 750.0 Land Building (net) 1759.7 Equipment & Machinery (net) Accounts Payable Short-term Notes Payable 308.2 $388.0 227.1 Interest Payable 79.9 Leases Payable (Short-term portion) Other short-term Current Payables Bonds Payable (Due December 2035) 20.8 585.2 500.0 Premium on Bonds 35.6 Pension Liability 384.6 Leases Payable (Long-term portion) 83.2 Common Stock, $.50 par/share 48.3 96.6 Additional Paid-in Capital Treasury Stock 904.7 Retained Earnings 1892.8 5698.0 Net Sales Cost of Goods Sold 2909.0 Selling Expenses 697.5 Administrative Expenses 1440.9 Interest Expense 56.8 TOTALS $10,040.10 $10,040.10 REQUIRED Prepare the following financial statement is GOOD FORM (e.g., lines, multiple columns, etc.): a Multi-step Income Statement b. Retained Earnings Statement c. Classified Balance Sheet