Use the following to prepare a multi step income statement and a classified balance sheet for seller Equiptment Co. for 2016.

value: 10.00 points Required Use the following information to prepare a multistep income statement and a classifed balance sheet Eller Equipment Co. for 2016. (Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated.) (Amounts to be deducted should be indicated with a minus sign.) 47,100 5,100 12,000 51,000 102,000 24,000 81,000 33,400 132,000 41,000 22,000 54,000 33,000 581,000 94,000 1,600 Beginning retained earnings Warranties payable (short term) Gain on sale of equipment Operating expenses Cash flow from investing activities $108,000 Salaries expense Common stock 96,000 18,500 20,000 52,000 Notes receivable (short term) Allowance for doubtful accounts Accumulated depreciation Notes payable (long term) Salvage value of building Interest payable (short term) Uncollectible accounts expense Supplies Equipment Interest revenue Sales revenue Dividends Warranty expense Interest receivable (short term 146,000 Prepaid rent 16,000 Land 7,000 Cash 5.100 Accounts payable 4,800 31,000 Inventory 216,400 Interest expense Salaries payable Unearned revenue Cost of goods sold 912,000 21,000 7,800 Accounts receivable 2,200 Depreciation expense