Use the provided trial balance for ABC Company to prepare a multi-step income statement and statement of stockholders' equity for the year ended December 31, 2016 and a balance sheet for December 31, 2016 (20 pts). The statement can be hand written or prepared in Excel and must submitted at the beginning of class on November 19, 2018. Electronic submissions will NOT be accepted. Late submissions will NOT be accepted. You may use your notes from class, text, or anything posted on Blackboard to assist. You may NOT use other students, the ACFI Lab, or any other resource not listed above to complete this portion of your exam. ABC Company Trial Balance At December 31, 2016 Debit 10,000 8,000 Credit Accounts Receivable Inventory Equipment Building Accounts Payable Income Tax Payable Notes Payable, long term Capital Stock (par $1) Additional Paid-in Capital Retained Earnings (12/31/2015) Dividends declared and paid Sales Revenue Cost of Goods Sold General and Admin Expense Depreciation Expense Interest Income Provision for Income Taxes 11,000 750,000 9,000 1,000 16,000 10,000 674,000 5,000 2,000 160,000 80,000 10,000 6,000 5,000 2,000 880,000 880,000