Required: The information presented by McAllister Manufacturing is its chart of accounts with balances, all of which are "normal. Any revenue, expense, gain, loss, or dividends information represents data covering one entire year, 2019, from January I until December 31. 1. Prepare McAllister's Income Statement. 2. Prepare McAllister's Classified Balance Sheet. McAllister Manufacturing Ledger Accounts (Account Balances Included) December 31, 2019 Cash Note Rec $ 80,000 Accts Receiv $200,000 Allw fr Bd Dts ($ 20,000) 60,000 Inventories 300,000 Prep Expenses 30,000 LT Invests 50,000 Land 120,000 Buildings 550,000 Machinery 500,000 Accum Depreciation (450,000) Patent 50,000 Accts Payable 170,000 Salaries Payable 40,000 Interest Payable 10,000 Curr LT Debt 10,000 LT Note Payable 90,000 Bonds Payable 500,000 Com Stk nopar 400,000 Ret. Earns, 12/31/18 140,000 Dividends (4,300) Sales Rev 1,459,200 Cost of Goods Sold 832,600 Selling Exp 123,500 Gn & Am Exp 147,800 R & D Exp 55,000 Restructuring Costs 125,000 Interest Inc 12,400 Interest Exp 25,900 Gn on Sale of Invest 18,000 Inc Tax Exp 59,900 Lss fm Op, Disc Comp 7,600 Tx Ben fm Disc Com 2,000