Question: SECTION II: Financial Statements @ 20 points total Below is an adjusted trial balance for ABC Variety Store Inc. ABC Variety Store Inc. Adjusted Trial

 SECTION II: Financial Statements @ 20 points total Below is an

SECTION II: Financial Statements @ 20 points total Below is an adjusted trial balance for ABC Variety Store Inc. ABC Variety Store Inc. Adjusted Trial Balance For Year Ended December 31, 2018 3,450 235,500 277,500 Cash Accounts Receivable Inventory 4,680 6,300 12,600 100,500 Notes Receivable Land Equipment Building 80,000 | 21,200 Accumulated depreciation - Building Accumulated depreciation Equipment 20,125 64,000 Intangible Assets 7,500 Accounts Payable 10,500 19,660 80,000 126,000 5,000 10,000 100,000 Salaries Payable Unearned Revenues Long-term Notes Payable Mortgages Payable Preferred Stock Common Stock Additional Paid-in Capital in excess of Par- Common Additional Paid-in Capital in excess of Par Preferred 20,000 92,453 Retained Earnings Net Sales Revenue Cost of Goods Sold Income Tax Expense 2,250 Dividends 750,000 375 Interest Revenue 235,500 64,500 91,050 38 84,945 Administrative Expenses Loss on Sale of Equipment Selling Expenses Total 1,262.813 1262,813 Prepare the following financial statements a. Multi-step Income Statement b. Statement of Retained Earnings c. Classified Balance Sheet

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