Given Data ESCALADE, INC. Adjusted Account Balances At December 31 (in thousands)

Accounts Payable $2,792

Accounts Receivable 34,141

Accrued Interest Payable 42

Accrued Wages Payable 5,856

Accrued Warranties Payable 1,324

Accumulated Depreciation 26,198

Cash 3,370

Contributed Capital 7,165

Cost of Goods Sold 111,164

Depreciation Expense 862

Factory Buildings 7,070

Income Tax Expense 5,804

Income Tax Payable 1,189

Insurance Expense 2,368

Interest Expense 950

Interest Receivable 415

Inventory of Finished Goods 10,263

Inventory of Goods being Made 4,536

Inventory of Supplies and Materials 5,750

Long-Term Bank Loan 14,000

Long-Term Contract Payable 1,837

Long-Term Note Payable 2,700

Manufacturing Equipment 12,962

Notes Payable (current) 11,390

Notes Receivable 400

Office Building 2,301

Office Equipment 2,363

Office Supplies Expense 69

Other Accrued Liabilities 1,638

Other Long-Term Assets 28,310

Packaging Expenses 1,010

Prepaid Insurance 108

Prepaid Rent 434

Rent Expense 7,350

Retained Earnings 27,571

Salaries Expense 3,582

Sales Commissions Expense 3,349

Sales of Basketball Systems 98,998

Sales of Other Products 28,710

Sales of Ping Pong Tables 27,747

Shipping Expenses 1,448

Transport Equipment 7,560

Deferred Revenue 8,144

Utilities Expense 2,111

Wages Expense 3,024

Warranties Expense 1,226

Warehouse Buildings 3,001

From the above information, prepare: Trial Balance as of December 31, XXXX Multi-Step Income Statement for the period ended December 31, XXXX Statement of Retained Earnings Classified Balance Sheet as of December 31, XXXX You could download this spreadsheet and use it to provide your answers or use a new spreadsheet. You could prepare all the required statements on the same worksheet or show them on different worksheets. You are welcome to present the answer on a word file, but it will take a lot more (unnecessary) work.