Required Use the following information to prepare a multistep income statement and a classified balance sheet for Eller Equipment Company for Year 1. (Hint Some of the items will not appear on either statement, and ending retained earnings must be calculated.) Prepare a multistep income statement for Eller Equipment Company for Year 1. N Prepare a classifsed Balance sheet for Eller Equipment Company for Year I. Note: Anpounts to be deductod shpuld be inidicoted with a minus sign. Use the following information to prepare a multistep income statement and a classified balance sheet for Eller Equipment Company for Required Year 1. (Hint Some of the items will not appear on either statement, and ending retained earnings must be calculated) Salaries expense \$. 110,000 Beginning retained earnings 98,000 Warranties payable (short term) 49,160 5,360 Notes receivable (short term) Allowance for doubtful accounts Accumulated depreciation Notes payable (long term) 5alvage value of building 20,50022,60054,690148,09018,0009,000GainonsaleofequipmentOperatingexpensesCashflonfrominvestingactivitiesPrepaidrentLandCash14,06053,000164,09026,60083,00055,200 InterestrevenueSalesrevenueDividendsWarrantyexpense5,000916,00023,000costofgoodssold8,000AccountsrecelvableSaloriespaysoleUnearnedrevenue96,0001,80035,000583,000 Prepare a multistep income statement for Eller Equipment Company for Year 1. N Prepare a classiffed Balance sheot for Eller Equipment Company for Year 1. Note: Amounts to be daducted should be indicated with a minus dign. Liabilities and Slockholders' Equity Current liabilities Total longterm liabilities Total liabilites Stockholders' equity