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 Notes receivable (short term) Allowance for doubtful accounts Accumulated depreciation Notes payable (long term) Salvage value of equipment Interest payable (short term) Uncollectible accounts expense Supplies Office equipment Interest revenue Sales revenue Dividends Rent expenso $121,980 52,000 17,580 6,900 43,000 125,530 6,590 2,510 14,420 3,460 76,860 6,330 513,920 11,700 4,510 Interest receivable (short term) Beginning retained earnings Operating expenses Cash flow from investing activities Prepaid rent Land Cash Inventory Accounts payable Interest expense Salaries payable Unearned revenue Cost of goods sold Accounts receivable $ 560 45,933 92,810 (96,090) 13,530 53,800 23,270 165,970 59,710 31,460 12,560 60,380 183,983 112,880 Required Prepare a multistep income statement and balance sheet for Chun Equipmpnt Co, for Year 2. 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 Year 2 CHUN EQUIPMENT CO. Inc Stmt Bal Sheet Prepare a multistep Income statement for Chun Equipment Co. for Year 2. CHUN EQUIPMENT CO. Income Statement For the Year Ended December 31, Year 2 Operating expenses Total operating expenses 0 Non-operating Items Total non-operating items Bal Sheet ssessment (LOs 1-3, 5) Inc Stmt Bal Sheet Prepare the balance sheet for Chun Equipment Co. for Year 2. (Be sure to list t CHUN EQUIPMENT CO. Balance Sheet As of December 31, Year 2 Assets Current assets 0 + $ 0 Total current assets Property, plant and equipment 0 $ 0 Total current assets Property, plant and equipment 0 0 $ 0 Total property, plant and equipment Total assets Liabilities and stockholders' equity Current liabilities + $ 0 Total current liabilities Long-term liabilities o Total long-term liabilities Total liabilities Stockholders' equity 0 0 0 Total long-term liabilities Total liabilities Stockholders' equity + 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0 She