prepare a multiple step income statement for the year ending in December 31, prepare a statement of retained earnings for the year ending in December 31, prepare a classified balance sheet at December 31.

Account Title Debit Credit 412,597 476,790 21,455 262,021 5,000 6,000 10,000 3,950 500,000 985,600 7 Cash in Bank 8 Accounts Receivable 9 Allowance for Doubtful Accounts 10 Merchandise Inventory 11 Prepaid Insurance 12 Prepaid Advertising 13 Prepaid Rent 14 Utility Deposit 15 Land 16 Equipment 17 Accumulated Depreciation Equipment 18 Accounts Payable 19 Salaries Payable 20 Accrued Expenses 21 Unearned Consulting Fees 22 Common Stock 23 Additional Paid in Capital Common 24 Retained Earnings 25 Dividends 26 Sales 27 Sales Discounts 28 Consulting Fee Revenue 29 Cost of Goods Sold 30 Salary Expense 31 Supplies Expense 32 Rent Expense 33 Insurance Expense 34 Bad Debt Expense 35 Utilities Expense 36 Depreciation Expense 37 38 Total 317,405 178,388 98,000 1,958 9,500 1,000,000 500,000 452,737 8,000 547,050 6,000 38,000 362,642 98,000 950 10,000 2,500 7,080 1,958 5,405 3,164,493 3,164,493