The following are the information of Chun Equipment Co. for Year 2. (Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated.) Salaries expense Common stock $122,670 51,000 Interest receivable (short term) Beginning retained earnings $ 990 36,938 Notes receivable (short term) 16,610 Operating expenses 92,330 Allowance for doubtful accounts 7,550 Accumulated depreciation 37,400 Cash flow from investing activities Prepaid rent (102,270) 14,610 Notes payable (long term) 123,680 Land 47,000 Salvage value of equipment 7,070 Cash 23,050 Interest payable (short term) 3,180 Inventory 160,710 Uncollectible accounts expense 13,560 Accounts payable 61,500 Supplies 3,310 Interest expense 33,030 Office equipment 73,150 Salaries payable 11,600 Interest revenue 6,150 Unearned revenue 58,810 Sales revenue 520,050 Cost of goods sold 186,178 Dividends Rent expense 12,900 4,520 Accounts receivable 113,240 Required Prepare a multistep income statement and balance sheet for Chun Equipment Co. for Year 2.