Use the following information to prepare a multistep income statement and a classified balance sheet for Webb Equipment Co. for2014.

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Salaries expense Common stock Notes receivable (long term) Allowance for doubtful accounts Accumulated depreciation Notes payable (long term) Salvage value of equipment Interest payable (short term) Uncollectible accounts expense Supplies $ 2,100 120,100 45,000 (91,600) 16,100 45.000 16,700 105,000 48.000 1,300 14,500 42,000 225,000 92,000 $61,200 70,000 15,000 6,500 12,000 26,000 Interest receivable (short term) Beginning retained earnings Operating expenses Cash flow from investing activities Prepaid rent Land 6,000 Cash 1,900 Inventory 9,600 Accounts payable 4,500 Interest expense 47,000Salaries payable 12,000 Unearned revenue 350,000 Cost of goods sold 10,000 Accounts receivable Interest revenue Sales revenue Dividends Rent expense 7,500