Use the following information to prepare a multistep income statement and a classified balance sheet for Beamer Equipment Co. for 2010.

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Salaries expense Common stock Notes receivable (short term Allowance for doubtful accounts Accumulated depreciation Notes payable (long term) Salvage value of building Interest payable (short term) Uncollectible accounts expense S 96,000 40,000 12,000 Beginning retained earnings Warranties payable (short term) Gain on sale of equipment S 10,400 1,300 6,400 70,000 80,000 4,000 Operating expenses 30,000 Cash flow from investing activities 103,600Prepaid rent 4,000 Land 36,000 17,800 Equipment Interest revenue Sales revenue Dividends Warranty expense Interest receivable (shart term 10,800 Inventory 60,000 Interest expense 396,000 Unearned revenue 1,800 1,600 4,200 8,000 Cash Accounts payable Salaries payable Cost of goods sold 24,000 9,200 52,600 3,400 Accounts receivable 90,000