Multistep income statement and balance sheet

Required

Use the following information to prepare a multistep income statement and a classified balance sheet for Usrey Equipment Co. for2012.

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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 Office equipment Interest revenue Sales revenue Dividends Rent expense $130,000 68,000 10,000 4,000 10,000 26,900 4,000 1,200 20,000 Interest receivable (short term) Beginning retained earnings Operating expenses Cash flow from investing activities Prepaid rent Land Cash Inventory Accounts payable S 400 41,200 34,000 80,000 8,000 60,000 20,000 16,000 1,800 5,000 3,400 16,000 175,000 50,000 900 Interest expense 42,000 Salaries payable 10,800 Unearned revenue 400,000 Cost of goods sold 8,000 Accounts receivable 4,000