These items are taken from the financial information of TikTok, Inc. as of December 31, 2019:

Accounts	Balances
Accounts Payable	3,000
Accounts Receivable	5,000
Accumulated Depreciation	6,000
Automobile	20,000
Cash	18,000
Common Stock	15,000
Cost of Goods Sold	90,000
Dividends	2,000
Notes Payable (due in 2024)	5,000
Prepaid Rent	2,000
Rent Expense	12,000
Retained Earnings (beginning)	10,000
Salaries Expense	24,000
Sales	150,000
Sales Returns & Allowances	10,000
Supplies	1,000
Supplies Expense	4,000
Tax Expense	2,000
Taxes Payable	1,000

Additional Information:

Common Stock

• Authorized shares 100,000

• Issued and outstanding shares at 12/31/19 15,000

• Par value $1 per share

• 3,000 shares issued in 2019

Required:

Prepare a multiple-step income statement, a statement of stockholders' equity, and a classified balance sheet for the year ended December 31, 2019 (in proper form).