The accounts of for the year ended March 31,2010, for Clark Industries, Inc. are listed next:

Requirements 1. Prepare Clark Industries’ multi-step income statement.
2. Prepare Clark Industries’ statement of retained earnings.
3. Prepare Clark Industries’ classified balance sheet in report form.

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Sales Revenue.. $275,100 Equipment... 27,000 Cost of Goods Sold..... Accumulated Depreciation, $119,000 Accounts Payable.. 16,500 Equipment... 13,000 Sales Discounts 2,500 Unearned Sales Revenue 2,500 Advertising Expense. 11,500 Prepaid Rent. 5,000 Interest Expense. 700 Office Salaries Expense. 54,000 Wages Payable... 1,000 Accumulated Depreciation, Accounts Receivable. 8,800 Building.... 52,500 Building........ 190,000 Rent Expense. 5,200 Sales Returns and Dividends. 12,000 Allowances. 4,900 Cash. 22,500 Common Stock 35,000 Retained Earnings. 112,800 Utilities Expense.. 14,000 Delivery Expense. 1,200 Inventory...... 29,000 Insurance Expense. 10,200 Commission Expense........... 31,700 Mortgage Payable (Long-Term) 42,000 Supplies......... 1,200