Use the following information to prepare a multistep income statement and a balance sheet for Sherman Equipment Company for Year 2. (Hint. Some of the items will not appear on either statement, and ending retained earnings must be calculated.) Salaries expense Common stock Notes receivable (short term) Allowance for doubtful accounts Uncollectible accounts expense Supplies Interest revenue Sales revenue Dividends Interest receivable (short term) Beginning retained earnings Req A1 Req A2 Complete this question by entering your answers in the tabs below. SHERMAN EQUIPMENT COMPANY $69,000 100,000 24,000 7,800 8,100 1,200 5,400 320,000 Income Statement For the Year Ending December 31, Year 2 3,500 1,500 81,000 Operating Expenses Prepare a multistep income statement for Sherman Equipment Company for Year 2. Operating expenses Cash Flow from investing activities Prepaid rent Land Cash Inventory Accounts payable Salaries payable Cost of goods sold Accounts receivable 0

Use the following information to prepare a multistepygcome statement and a balance sheet for Sherman Equipment Company for Year 2. (Hint Some of the items will not appear on either slatement, and ending retained earnings must be calculated) 3,613,644,693,843,141,245,443,643,541,541,64 Complete this question by entering your answers in the tabs below. Prepare a multistep income statement for Sherman Equipment Company for Year 2. Use the following information to prepare a multistep incomestatement and a balance sheet for Sherman Equipment Company for Year 2. (Hint Some of the items will not appear on either statement. and ending retained earnings must be calculated.) Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Sherman Equipment Company for Year 2. (Enter amounts to be deducted with a minus sign.)