The following are the information for Chun Equipment Co. for 2018. (Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated.)

Salaries expense	$	122,780		Interest receivable (short term)	$	740
Common stock		52,000		Beginning retained earnings		48,613
Notes receivable (short term)		16,620		Operating expenses		88,900
Allowance for doubtful accounts		5,450		Cash flow from investing activities		(99,670	)
Accumulated depreciation		38,300		Prepaid rent		13,440
Notes payable (long term)		121,700		Land		50,000
Salvage value of equipment		7,320		Cash		23,540
Interest payable (short term)		3,300		Inventory		160,620
Uncollectible accounts expense		14,040		Accounts payable		57,630
Supplies		3,230		Interest expense		33,610
Office equipment		73,320		Salaries payable		12,330
Interest revenue		5,880		Unearned revenue		61,530
Sales revenue		505,930		Cost of goods sold		181,123
Dividends		12,200		Accounts receivable		113,570
Rent expense		4,930

Required Prepare a multistep income statement and balance sheet for Chun Equipment Co. for 2018. Complete this question by entering your answers in the tabs below. Inc Stmt Bal Sheet Prepare a multistep income statement for Chun Equipment Co. for 2018. CHUN EQUIPMENT CO. Income Statement For the Year Ended December 31, 2018 Operating expenses Total operating expenses Non-operating Items Total non-operating items Prepare the balance sheet for Chun Equipment Co. for 2018. (Be sure to list the assets in the order of their liquidity.) CHUN EQUIPMENT CO. Balance Sheet As of December 31, 2018 Assets Current assets Total current assets Property, plant and equipment s Total property, plant and equipment Total assets Liabilities and stockholders' equity Current liabilities Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity