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Required: Prepare a multi-step income statement and a classified balance sheet in proper form using accrual accounting. Moran Enterprises, Inc., has the following account balances

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Required: Prepare a multi-step income statement and a classified balance sheet in proper form using accrual accounting.

Moran Enterprises, Inc., has the following account balances and other information in alphabetical order at Dec. 31, 2012. All balances are as of the end of the year except Retained Earnings.

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