The Trial Balance BBS Limited contained the following accounts at December 31, 2018, the end of company's fiscal year. SL. Account Titles Debit Credit 1 Cash 28,700 2 Accounts Receivable 30,700 Additional Data: 600,000 44,700 6,200 1 The company is under 42.5% tax bracket. 2 The interest on the debentures has not yet been paid. . 3 The company has declared 10% cash dividend on the 50,000 ordinary shares. 4 Depreciation is to be charged on a reducing-balance basis: machinery at 20%, equipment at 10%. 5 Supplies on hand totaled $2000. 85,000 22,000 48,000 6,000 Required: You have to prepare a multi-step income statement, Statement of Owner's Equity and Classified Balance Sheet of BBS Limited. . 51,000 100,000 48,500 3 Land 4 Merchandise Inventory 5 Supplies 6 Machinery 7 Accumulated Depreciation-Machinery & Equipment 9 Accumulated Depreciation-Equipment 10 Gain on sale of the propertry 11 8% Debenture 12 Accounts Payable 13 Common Stock (50,000 shares of $2 each) 14 Additional Paid in Capital 15 Retained Earnings 16 Sales 17 Sales Returns and Allowances 18 Cost of Goods Sold 19 Salaries Expense 20 Advertising Expense 21 Utilities Expense 22 Repair Expense 23 | Wages Expense 24 Freight Out Expense 100,000 220,000 50,000 1,755,200 8,800 897,400 24,400 14,000 12,100 24,000 16,700 2,400 207,200 25 Rent Expense 26 Auditors Fee 302,400 2,352,700 Total 2,352,700