Use the following information to prepare a multi-step income statement and a balance sheet for Sherman Equipment Co. for Year 2 (Hint Some of the items will not appear on either statement, and ending retained earnings must be calculated.) (Balance Sheet only: Items to be deducted must be indicated with a minus sign.) Salaries Expense Common Stock Notes Receivable (shorts term) Allowance for Doubtful Accounts Uncollectible Accounts Expense Supplies Interest Revenu Sales Revenue Dividends Interest Receivable (short term) Beginning Retained Earnings $ 82,000 100,000 Cash Flow from Investing Activities98,400 14,500 60,000 50,100 100,300 66, 000 32,000 168,000 76,000 89,000 Operating Expenses 44,000 Prepaid Rent 9,800 Land 10,100 Cash 3,200 Inventory 7,400 Accounts Payable 400, 000 Salaries Payable 5,500 Cost of Goods Sold 3,500 Accounts Receivable 91,000 Income Statement For the Year Ending December 31, Year 2 400,000 Sales revenue Cost of goods sold Gross profi Operating Expenses 400,000 Operating expenses Salaries expense Uncollectible accounts expense