Use the following information to prepare a multistep income statement and a balance sheet for Sherman...

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Use the following information to prepare a multistep income statement and a balance sheet for Sherman Equipment Company for Year 2. (Hint Some of the items will not appear on either statement, and ending retained earnings must be calculated.) Salaries expense Common stock Notes receivable (short term) Allowance for doubtful accounts Uncollectible accounts expense Supplies Operating expenses Prepaid rent $74,000 100,000 Cash Flow from investing activities 29,000 8,300 Land 8,600 Cash 1,700 Interest revenue 5,900 Sales revenue 340,000 Dividends 4,000 Interest receivable (short term) 2,000 Cost of goods sold. Accounts receivable Beginning retained earnings 83,500 Inventory Accounts payable Salaries payable $67,000 83,400 13,000 45,000 48,600 98,800. $1,000 17,000 153,000 61,000 Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req A1 Req A2 Prepare a multistep income statement for Sherman Equipment Company for Year 2. SHERMAN EQUIPMENT COMPANY Income Statement For the Year Ending December 31, Year 2 Operating Expenses Total Operating Expenses Non-Operating Items 0 0 0 $ 0 12 66 99 oints Assets SHERMAN EQUIPMENT COMPANY Balance Sheet As of December 31, Year 2 eBook Print References 0 Total assets $ 0 Liabilities and Stockholders' Equity Current Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 0 0 $ 0 Use the following information to prepare a multistep income statement and a balance sheet for Sherman Equipment Company for Year 2. (Hint Some of the items will not appear on either statement, and ending retained earnings must be calculated.) Salaries expense Common stock Notes receivable (short term) Allowance for doubtful accounts Uncollectible accounts expense Supplies Operating expenses Prepaid rent $74,000 100,000 Cash Flow from investing activities 29,000 8,300 Land 8,600 Cash 1,700 Interest revenue 5,900 Sales revenue 340,000 Dividends 4,000 Interest receivable (short term) 2,000 Cost of goods sold. Accounts receivable Beginning retained earnings 83,500 Inventory Accounts payable Salaries payable $67,000 83,400 13,000 45,000 48,600 98,800. $1,000 17,000 153,000 61,000 Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req A1 Req A2 Prepare a multistep income statement for Sherman Equipment Company for Year 2. SHERMAN EQUIPMENT COMPANY Income Statement For the Year Ending December 31, Year 2 Operating Expenses Total Operating Expenses Non-Operating Items 0 0 0 $ 0 12 66 99 oints Assets SHERMAN EQUIPMENT COMPANY Balance Sheet As of December 31, Year 2 eBook Print References 0 Total assets $ 0 Liabilities and Stockholders' Equity Current Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 0 0 $ 0