Ross Airport Auto Service provides parking and minor repair service at the local airport while customers are away on business or pleasure trips. The following account balances (except for retained earnings) are available for Ross Airport Auto Service at December 31, 2011.

Required:
Prepare a single-step income statement and a classified balance sheet for the year ended December 31, 2011.

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$4,100 6,100 35,000 160,000 27,300 103,500 48,200 232,600 198,500 36,900 246,100 12,500 Accounts payable Accounts receivable Accumulated depreciation 17,200 Interest income 39,200 Inventory (repair p Notes payable (due May 2, 2018) Relained earnings, 12/31/2011 Supplies expense [repair parts) erm (equipment) Cash Common stock [20,000 shares) Depreciation expense fequipment) Dividends Equipment Income toxes expense Income taxes payable Interest expense Interest payable 42,300 7,700 Prepaid rent (3 months) 100,000 Rent expensa 12,450 6,300 ervice revenue (parking) 270,800 Service revenue frepair) 2,700 1,100 Wages expense 21,300 Wages payable 4,800