The accounts of Smith Electronics Company are listed along with their balances before closing for the month ended October 31, 2012.

Requirements
1. Prepare Smith Electronics€™ multi-step income statement.
2. Prepare Smith Electronics€™ statement of retained earnings.
3. Prepare Smith Electronics€™ classified balance sheet in reportform.

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500 Accounts payable 45,400 Accounts receivable 47,000 Accumulated depreciation 3,400 Retained earnings, Sep 30 2,700 Dividends 8,100 Cash 296,500 Cost of goods sold 37,500 Equipment 6,300 General expenses 13,800 Common stock $ 16,900 %24 Interest revenue Inventory Note payable, long-term Salary payable Sales discounts Sales returns and allowances 33,900 38,100 39,000 19,000 7,600 Sales revenue 162,100 Selling expense Supplies Unearned sales revenue 130,900 16,200 13,500 Interest payable 1,000