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 owner€™s equity.
3. Prepare Smith Electronics€™ classified balance sheet in reportform.

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$ 500 Accounts payable 45,400 Accounts receivable Interest revenue Inventory Note payable, long-term Salary payable Sales discounts Sales returns and allowances Sales revenue Selling expense Supplies Unearned sales revenue 16,900 33,900 47,000 Accumulated depreciation 38,100 52,500 19,000 7,600 162,100 130,900 16,200 1,000 3,400 Smith, capital, Sep 30 2,700 Smith, drawing 8,100 Cash 296,500 Cost of goods sold 37500 Equipment 6,300 General expenses 13,800 Interest payable