Question #2 ABC Incorporated Trial Balance At December 31, 2017 Debits Credits 25,000 20,000 Accounts payable Accounts receivable Accumulated amortization - equipment Allowance for doubtful accounts 15,000 2,500 12,000 53,500 76,300 108,000 2,200 150,000 5,000 20,000 3,600 1,200 Amortization expense Cash Cost of goods sold Retained Earnings Salaries payable Equipment Income tax expense Inventory Insurance expense Interest expense Note payable (due December 31, 2021)** Prepaid insurance Rent expense Salaries expense Sales Sales discounts Income tax payable Supplies Supplies expense Unearned service revenue Total 50,000 2,400 15,000 24,000 178,000 1,700 8,000 4,500 2,000 2,500 391,200 391,200 ** There is a $1,500 payment due on June 30, 2018 from the outstanding loan. Required: Use the account balances from ABC Incorporated's Trial Balance to prepare in good form: 1. A Multi-step Income Statement 2. Statement of Retained Earnings 3. A Classified Balance Sheet