Required Use the following information to prepare a multistep income statement and a classified balance sheet for Eller Equipment Co. for Yea 1. (Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated.) Salaries expense Common stock Notes receivable (short term) Allowance for doubtful 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 Warranty expense Interest receivable (short term) $108,eee Beginning retained earnings 96,000 Warranties payable (short term) 18,500 Gain on sale of equipment 20,000 Operating expenses 52,000 cash flow from investing activities 146,000 Prepaid rent 16,000 Land 7,000 Cash 31,000 Inventory 5,100 Accounts payable 216,408 Interest expense 4,800 Salaries payable 912,000 Unearned revenue 21,000 Cost of goods sold 7,800 Accounts receivable 2,200 Depreciation expense $ 47,189 5,190 12,800 51,800 102,000 24,000 81,000 33,400 132,000 41,eee 22,eee 54,000 33,000 581,000 94,000 1,600 Complete this question hy entering your orn 4 Income Statement Balanesh Prepare a multistep income statement for Eller Equipment Co. for Year 1. (Amounts to be deducted minus sign.) bped ELLER EQUIPMENT CO. Income Statement For the Year Ending December 31. Year 1 ook 0 Operating expenses rences Total operating expenses 0 0 Non-operating items Total non-operating items 0 0 Income Statement Balance Sheet > Assets 0 $ 0 Total current assets Property, plant and equipment 0 0 Total property, plant and equipment Total assets Liabilities and Stockholders' Equity $ 0 Current liabilities $ Total assets Liabilities and Stockholders' Equity Current liabilities 0 Total current liabilities Long-term liabilities 0 Total long-term liabilities Total liabilities Stockholders' equity 0 0 0 Total stockholders' equity Total liabilities and stockholders' equity 0