Zimmerman Electronics has the following balances in the company ledgers for the year ending 2022:

Mortgage $80,000 Interest Charges $10,000

Prepaid Insurance $ 2,000 Land $25,000

Short-term invest. $ 5,000 Office salaries $70,000

Common Shares $15,000 Sales Salaries $100,000

Cash $ 5,000 Supplies $20,000

Advertising $50,000 Insurance $10,000

Accounts Receivable $15,000 Amortization $20,000

Sales $600,000 Income Tax $10,000

Accounts Payable $12,000 Dividend Payments $10,000

Buildings $100,000 Interest Income $15,000

Cost of Sales $300,000 Inventory $20,000

Note Payable $10,000

Retained Earnings $40,000

Required: prepare the:

• An income statement
• Statement of retained earnings
• Classified balance sheet