+ The Income Statement and Balance Sheet columns below are from the work sheet of Bleeker Street Bounty for the year ended December 31, 2020. Account Title Bleeker Street Bounty Work Sheet (partial) For the year ended December 31, 20-- From the work sheet, prepare a multiple-step income statement, a statement of owners' equity | and a classified balance sheet. The current year's portion of the Long-Term payable is $6,000. 1. Prepare a multiple-step income statement. Bleeker Street Bounty Income Statement For Year Ended December 31, 2020 Income Statement Debit Credit Balance Sheet Debit Credit Revenue from sales: Cash Accounts Receivable 12,300 25,000 Merchandise Inventory 16,000 Store Supplies Office Supplies Prepaid Insurance Store Equipment Accumulated Depreciation-Store Equipment Office Equipment Accumulated Depreciation-Office Equipment Accounts Payable 1,100 600 Cost of goods sold: 1,500 66,000 38,000 18,000 10,000 22.300 Salaries Payable 400 Long-Term Notes Payable 36,000 Carlo Perez, Capital 50,600 Carlo Perez, Drawing 32,000 Income Summary 17,000 16,000 Sales 61,500 Sales Returns and Allowances 500 Purchases 23,000 Operating expenses: Selling expenses: Purchases Returns and Allowances Purchases Discounts o0o0 700 Sales Salary Expense (selling) Office Salary Expense (general) Store Supplies Expense (selling) Office Supplies Expense (general) Insurance Expense (general) Depreciation Expense-Store Equipment (selling) Depreciation Expense-Office Equipment (general) Net Income 400 10,500 9,200 800 400 300 900 800 63,400 78.600 172,500 157,300 15,200 78,600 78,600 172,500 15,200 172,500 Total selling expense Administrative expense: Total administrative expense Total operating expenses