Show me the steps to solve Required ELLER EQUIPMENT COMPANY

Income Statement

For the Year Ending December $31,$ Year $1$ ELLER EQUIPMENT COMPANY

Balance Sheet

As of December $31,$ Year $1$

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.$)$

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 $1.$