Prepare a multiple step income statement and a statement of changes to retained earnings for the year ended December 31, 20xx. Prepare a classified balance sheet for December 31, 20xx.

10,000 Maniacs Company
Trial Balance
December 31, 20xx
	Debits	Credits
Cash	$5
Accounts Receivable	$75
Allowance for Bad Debts		$8
Inventory	$25
Prepaid Expenses	$18
Supplies	$2
Equipment	$120
Building	$350
Accumulated Depreciation		$110
Land	$200
Investments in Stock held Long-Term	$55
Trademark & Logo	$3
Accounts Payable		$20
Salaries Payable		$65
Notes Payable (Due in 10 years)		$180
Common Stock		$20
Paid-In Capital in Excess of Par		$150
Retained Earnings		$80
Dividends Declared	$12
Sales		$880
Cost of Goods Sold	$235
Salaries Expense	$165
Research & Development Expense	$25
Marketing Expenses	$55
Depreciation Expense	$35
Administrative Expenses	$13
Taxes Expense	$40
Interest Expense	$22
Loss for Hurricane Damage	$95
Gain from sale of Investments		$37
Totals	$1,550	$1,550