The following list includes all of the account balances from Blue and White Company's general ledger on December 31, 2020, after all the adjusting entries have been posted. The accounts are listed in alphabetical order, and all accounts have a normal balance. This was Blue and White Company's first year in business Instructions: Using the information provided above, prepare a multiple-step income statement, statement of owner's equity, and classified balance sheet for Blue and White Company for the fiscal year ending December 31, 2020. Enter your answer in the space provided below on Connect. The accounts in your financial statements should be in the proper format, but you do not need to align amounts in neat columns. DO NOT ABBREVIATE ACCOUNT TITLES Accounts payable Accounts receivable Accumulated depreciation-machinery Allowance for doubtful accounts Cash Cost of goods sold General and administrative expenses Interest expense Machinery Merchandise inventory Notes payable (due June 30, 2025) Office supplies Prepaid rent S. Jones, Capital S. Jones, Withdrawals Sales Sales returns and allowances Sales tax payable Selling expenses Unearned revenue $38,247 34,521 18,500 2,105 20,654 354,321 44,987 6,870 185,000 40,305 110,000 357 564 35,479 24,000 531,400 6,800 589 18,905 964