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Enter your name in cell B2:	AJAY RANA
The trial balance of AJAY RANA Company as of December 31, 2023 is presented below.
AJAY RANA Company
Trial Balance
December 31, 2023
	Debit	Credit
Cash	$70,500
Accounts receivable, net	140,000
Merchandise inventory	123,500
Store supplies	14,200
Store equipment	300,000
Accumulated depreciation		$90,000
Accounts payable		112,000
Salaries payable		45,000
Common stock		207,000
Retained earnings		310,400
Dividends	264,000
Sales		731,000
Sales discounts	12,000
Sales returns and allowances	36,600
Cost of goods sold	256,000
Depreciation expense - Store equipment	45,000
Sales salaries expense	51,200
Office salaries expense	46,700
Insurance expense	23,700
Rent expense - Store	29,700
Rent expense - Office	19,700
Store supplies expense	18,500
Advertising expense	44,100
Totals	$1,495,400	$1,495,400
REQUIRED:
1) Prepare a multiple step income statement for the year ended December 31, 2023.
2) Prepare a statement of retained earnings for the year ended December 31, 2023. The Retained earnings balance on January 1 was $310,400.
3) Prepare a classified balance sheet at December 31, 2023.