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Required Use the following information to prepare a multistep income statement and a classified balance sheet for Eller Equipment Company for Year 2. (Hint: Some

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Required Use the following information to prepare a multistep income statement and a classified balance sheet for Eller Equipment Company for Year 2. (Hint: Some of the items will not appear on elther statement and ending retained earnings must be calculated.) Salaries expense 107.000 Beginning retained earnings Common stock $ 46, 108 95,000 Warranties payable (short term) 5,000 Notes receivable (short term) 17,500 Gain on sale of equipment Allowance for doubtful accounts 11,000 19,000 Operating expenses 50,000 Accumulated depreciation 51,000 Cash flow fron investing activities 181,800 Notes payable (long term) 145,000 Prepaid rent 23,000 Salvage value of building 15,000 Land 80,000 Interest payable (short term) 6,000 Cash 34,500 Uncollectible accounts expense 30,000 Inventory 131,000 Supplies 5,000 Accounts payable 40,000 Equipment 214,500 Interest expense 21,000 Interest revenue 4,700 Salaries payable 53,000 Sales revenue 910,000 Unearned revenue 32,800 Dividends 20,000 cost of goods sold 580,000 Warranty expense 7,700 Accounts receivable 93,000 Interest receivable (short tera) 2,100 Depreciation expense 1,500 Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Prepare a multistep income statement for Eller Equipment Company for Year 2. (Amounts to be deducted should be indicated with a minus sign) View transaction list Journal entry worksheet

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