The following unadjusted trial balance was extracted from the books of Dangle Traders at June 30 th , 2016 The company is owned by Dan Dangle and trades in the buying and selling of used car parts Dangle Traders Trial Balance as at June 30, 2016 A C Name DR $ CR $ Cash 405,670 Accounts Receivable 2,037,100 Merchandise Inventory 660,500 Store Supplies 403,930 Prepaid Rent 165,000 Furniture and Fixtures 1,200,000 Accumulated Depreciation Furniture and Fixtures 360,000 Accounts Payable 1,046,340 Insurance Payable Utilities Payable Unearned Sales Revenue 348,500 Note Payable Long Term 350,000 Dan Dangle, Capital 2,105,000 Dan Dangle, Withdrawal 248,000 Sales Revenue Earned 4,316,280 Sales Discount 100,300 Sales Returns and Allowances 80,200 Cost of Goods Sold 1,171,770 Salaries Expense 802,750 Rent Expense 605,000 Depreciation Expense Furniture and Fixtures Utilities Expense 418,000 Store Supplies Expense Insurance Expense Bad Debt Expense 105,000 Travelling Expense 102,000 Interest Expense 20,900 Total 8,526,120 8,526,120 The following additional information was made available at June 30th, 2016 Store supplies used during the year amounted to $200,580 $55,000 of the prepaid rent has expired as at June 30th, 2016 Unearned sales revenue still not earned, $200,400 The Company expects to earn this amount during January 2017 The Furniture and Fixtures has an estimated life of ten (10) years and is being depreciated on the straight line method of depreciation, down to a residual value of $0 Insurance expenses not paid as at June 30 th , 2016 amounted to $130,000 Accrued utilities expense amounted to $38,000 at June 30 th , 2016 A physical count of inventory at June 30 th 2016, reveals $665,500 worth of inventory on hand Other Data $250,000 of the notes payable is due for payment on December 31 st , 2016 Requirements Prepare the companys multiple step income statement for the year ended June 30 th , 2016 Prepare the companys statement of owners equity for the year ended June 30 th , 2016 Prepare the companys classified balance sheet at June 30 th , 2016

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The following unadjusted trial balance was extracted from the books of Dangle Traders at June 30 th , 2016. The company is owned by Dan

The following unadjusted trial balance was extracted from the books of Dangle Traders at June 30^th, 2016. The company is owned by Dan Dangle and trades in the buying and selling of used car parts.

Dangle Traders

Trial Balance as at June 30, 2016

A/C Name	DR $	CR $
Cash	405,670
Accounts Receivable	2,037,100
Merchandise Inventory	660,500
Store Supplies	403,930
Prepaid Rent	165,000
Furniture and Fixtures	1,200,000
Accumulated Depreciation Furniture and Fixtures		360,000
Accounts Payable		1,046,340
Insurance Payable
Utilities Payable
Unearned Sales Revenue		348,500
Note Payable-Long Term		350,000
Dan Dangle, Capital		2,105,000
Dan Dangle, Withdrawal	248,000
Sales Revenue Earned		4,316,280
Sales Discount	100,300
Sales Returns and Allowances	80,200
Cost of Goods Sold	1,171,770
Salaries Expense	802,750
Rent Expense	605,000
Depreciation Expense Furniture and Fixtures
Utilities Expense	418,000
Store Supplies Expense
Insurance Expense
Bad Debt Expense	105,000
Travelling Expense	102,000
Interest Expense	20,900	________
Total	8,526,120	8,526,120

The following additional information was made available at June 30th, 2016

Store supplies used during the year amounted to $200,580.

$55,000 of the prepaid rent has expired as at June 30th, 2016.

Unearned sales revenue still not earned, $200,400. The Company expects to earn this amount during January 2017.

The Furniture and Fixtures has an estimated life of ten (10) years and is being depreciated on the straight-line method of depreciation, down to a residual value of $0.

Insurance expenses not paid as at June 30^th, 2016 amounted to $130,000.

Accrued utilities expense amounted to $38,000 at June 30^th, 2016.

A physical count of inventory at June 30^th 2016, reveals $665,500 worth of inventory on hand.

Other Data:

$250,000 of the notes payable is due for payment on December 31^st, 2016.

Requirements:

Prepare the companys multiple-step income statement for the year ended June 30^th, 2016.

Prepare the companys statement of owners equity for the year ended June 30^th, 2016

Prepare the companys classified balance sheet at June 30^th, 2016