Required Use the following information to prepare a multistep income statement and a classified balance sheet for Eller Equipment Co. for Year 1.(Hint Some of the ltems will not appear on either statement, and ending retained earnings must be calculated.) Salaries expense Common stock Notes receivable (short term) Allowance for doubt ful accounts Accumulated depreciation Notes payable (long term) Salvage value of building Interest payable (short term) Uncollectible accounts expense Supplies Equipment Interest revenue Sales revenue Dividends $105,000 Beginning retained earnings $ 44,180 93,600 Warranties payable (short term) 15,50 Gain on sale of equipment 17,890 Operating expenses 49,800 Cash flow from investing activities 4,808 9,000 48,009 99,880 21,009 78,008 41,700 129,000 38,000 19,800 51,000 30,000 578,000 91,000 1,300 eBook 143,800 Prepaid rent 13,000 Land Print 9,800 Cash 98,000 Inventory 4,800 Accounts payable 210,700 Interest expense 4,500 Salaries payable 906,000 Unearned revenue 18,000 Cost of goods sold Harranty expense Interest receivable (short term) 7,500 Accounts receivable 1,900 Depreciation expense Complete this question by entering your answers in the tabs below. 7 Prepare a multistep income statement for Eller Equipment Co. for Year 1. (Amounts to be deducted should be indicated with a minus sign.) ELLER EQUIPMENT Co Income Statement 5 points For the Year Ending December 31 Year 1 Operating expenses Reterences Total operating expenses tems Total non-operating tems Chapter 9 HW Saved 7 Income Balance Sheet Statement a classified Balance sheet for Eller Equipment Co. for Year 1. (Amounts to be deducted should be indicated with a sign.) 5 ELLER EQUIPMENT Co. Balance Sheet As of December 31, Year 1 eBook Print Assets Total current assets Property, plant and equipment Total property plant and equipment otal assets Chapter 9 HW Saved 7 Total property plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities 5 points eBook Print References Total current liabliies Long-term liabilities Total long-term labilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity Income Statement alance Shoel