Income Statement, Retained Earnings Statement, and Balance Sheet Instructions Labels and Amount Descriptions Income Statement Retained Earnings Statements Balance Sheet Final Question Instructions McDonald Marina provides docking and cleaning services for pleasure boats at its marina in southern Florida. The following account balances are available: Accounts payable $ 238,000 Accounts receivable 18,000 876,000 14,600 2.200 Accumulated depreciation (building) Accumulated depreciation (equipment) Bonds payable (due 2024) Building Cash Common stock (40,000 shares) Depreciation expense (building) Depreciation expense (equipment) Dividends Equipment $ 26,300 Interest expense 268.800 Interest payable 64,200 Land 950,400 Rent expense 2.000.000 Rent payable 197,400 Retained earnings, 12/31/2018 22.100 Service revenue (cleaning) 600.000 Service revenue (docking) 21,400 Supplies 246,400 Supplies expense 25,300 Utilities expense 2,500,000 Wages expense 21,600 Wages payable 139,800 472 200 1,470,000 9,700 89.100 239,300 995,200 21,800 Income taxes expense Required: 1. Prepare a single-step income statement, a retained earnings statement, and a classified balance sheet for the year ended December 31, 2019. 2. Conceptual Connection: How would a multiple-step income statement be different from the single-step income statement you prepared for McDonald Marina? Final Question 2. Conceptual Connection: How would a multiple-step income statement be different from the single-step income statement you prepared for McDonald Marina? amount for net income. However, a income statement only contains two categories. These two categories are subtracted to arrive at net income. Therefore, A single-step income statement and a multiple-step income statement report between the two formats is