The adjusted trial balance for Myrtle Fish Company at December 31, 2018 is presented below:

Debit Credit

Cash 10,800

Accounts Receivable 152,000

Prepaid rent 5,200

Inventory 27,000

Equipment 320,000

Accumulated Depreciation - equipment 127,000

Accounts payable 32,000

Notes payable - due in three months 32,000

Salaries payable 4,200

Interest payable 1,200

Common Stock 210,000

Retained earnings 54,000

Sales revenue 420,000

Cost of goods sold 190,000

Salaries expense 122,000

Rent expense 17,000

Depreciation expense 32,000

Interest expense 2,200

Advertising expense 2,700

Totals 880,800 880,800

1. Prepare a multiple - step Income Statement

2. Prepare a Statement of Stockholders' equity

3. Prepare a classified balance sheet