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

Requirements
1. Prepare Taylor Electronics€™ multi-step income statement.
2. Prepare Taylor Electronics€™ statement of owner€™s equity.
3. Prepare Taylor Electronics€™ classified balance sheet in reportform.

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$ 200 Accounts payable Interest revenuc Inventory Note payable, long-term Salary payable Sales discounts Sales returns and allowances Sales revenue S 16,700 33,600 46,000 Accumulated depreciation 37,700 54,100 20,000 8,000 162,300 129,100 16,700 1,200 45,100 Accounts receivable 2,700 Taylor, capital, Feb 28 2,900 Taylor, drawing 7,500 Cash 297,000 Cost of goods sold Selling expense Supplies Unearned sales revenue 38,200 Equipment 6,000 General expenses 13,800 Intcrest payable