The accounts of Practice Makes Perfect Corporation are listed along with their adjusted balances before closing for the year ended June 30, 2023. Prepaid Expenses $ 59 6,000 Accounts payable $ 18,000 Inventory Note payable, long-term Salary payable 174,500 Accounts receivable 100,000 100,000 Accumulated depreciation 37,000 4,500 Common Stock 150,000 Supplies Expense 2,500 Retained Earnings, July 1, 2022 83,500 Depreciation Expense 7,500 Cash 58,000 Sales revenue 800,000 Cost of goods sold 375,000 Insurance Expense 12,000 Dividends (declared & paid) 25,000 Land 30,000 Marketing Expense 6,000 Rent Expense 96,000 Equipment 150,000 Office Supplies 10,000 Salaries Expense 200,000 12,000 80,000 Unearned sales revenue Sales Returns & Allowances All month-end adjustments have already been made. Assume all accounts have normal balances. No dividends were declared or paid during the fiscal year. Notes payable, short-term 135,000 Sales Discounts 7,500 Requirements: 1. Prepare a multi-step income statement 2. Prepared the statement of retained earnings 3. Prepared a classified balance sheet