SHERMAN EQUIPMENT COMPANY Income Statement For the Year Ending December 31, Year 2 \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Total Operating Expenses & & & \\ \hline & & & \\ \hline Non-Operating Items & & \\ \hline \end{tabular} Use the following information to prepare a multistep income statement and a balance sheet for Sherman Equipment Company fot Year 2. (Hint. Some of the items will not appear on either statement, and ending retained earnings must be calculated.) SHERMAN EQUIPMENT COMPANY Income Statement For the Year Ending December 31, Year 2 \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Total Operating Expenses & & & \\ \hline & & & \\ \hline Non-Operating Items & & \\ \hline \end{tabular} Use the following information to prepare a multistep income statement and a balance sheet for Sherman Equipment Company fot Year 2. (Hint. Some of the items will not appear on either statement, and ending retained earnings must be calculated.)