The following are the information of Chun Equipment Company for Year $2.($Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated.$)$

Salaries expense $$121,540$ Interest receivable $($short term$)$ $$510$

Common stock $53,500$ Beginning retained earnings $45,267$

Notes receivable $($short term$)16,290$ Operating expenses $90,600$

Allowance for doubtful accounts $8,660$ Cash flow from investing activities $(103,820)$

Accumulated depreciation $33,400$ Prepaid rent $14,090$

Notes payable $($long term$)125,950$ Land $52,000$

Salvage value of equipment $6,810$ Cash $21,500$

Interest payable $($short term$)3,480$ Inventory $160,760$

Uncollectible accounts expense $14,480$ Accounts payable $58,320$

Supplies $2,570$ Interest expense $33,150$

Office equipment $76,080$ Salaries payable $11,190$

Interest revenue $6,180$ Unearned revenue $59,740$

Sales revenue $512,840$ Cost of goods sold $183,597$

Dividends $12,800$ Accounts receivable $113,430$

Rent expense $5,130$

Required

Prepare a multistep income statement and balance sheet for Chun Equipment Company for Year $2.$