The accounts of Practice Makes Perfect Corporation are listed along with their adjusted balances before closing for the year ended June $30,2023.$

$\backslash$table$[[$Prepaid Expenses,$$,6,000,$Accounts payable,$$,18,000],[$Inventory$,,174,500,$Accounts receivable,,$100,000],[$Note payable, long$-$term,,$100,000,$Accumulated depreciation,,$37,000],[$Salary payable,,$4,500,$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,,$200,000],[$Unearned sales revenue,,$12,000,$Notes payable, short$-$term,,$135,000],[$Sales Returns & Allowances,,$80,000,$Sales Discounts,,$7,500]]$

All month$-$end adjustments have already been made. Assume all accounts have normal balances.

No dividends were declared or paid during the fiscal year.

Requirements:

Prepare a multi$-$step income statement

Prepared the statement of retained earnings

Prepared a classified balance sheet