using excel

Question 1 Prepare and analyze a Multiple Step Income Statement and a Classified Balance Sheet (20 marks) a. Prepare a multiple step income statement for Calypso Company for the year ended December 31, 2020 from the following information (6 marks) b. Prepare a Classified Balance Sheet as at December 31, 2020 from the following information. (10 marks) c. What can you say about this company based on this information? Hint: what type of company is it?, what is the form of business?, how old is it? (4 marks) Accounts Receivable Cash Depreciation expense Allowance for doubtful accounts Selling and admin expenses terest expense 34,000 25,000 18,000 13,000 41,000 9,000 Accounts Receivable Cash Depreciation expense Allowance for doubtful accounts Selling and admin expenses Interest expense Prepaid insurance Cost of Goods Sold Ships Service revenue Inventory Accumulated Depreciation - ships Accounts Payable Sales revenue Goodwill Sales returns and allowances Notes Payable (47,000 due this year) Common Shares 34,000 25,000 18,000 13,000 41,000 9,000 7,000 28,000 270,000 280,000 12,000 45,000 5,000 44,000 50,000 5,000 76,000 Salaries expense Retained Earnings (January 1, 2020) Unearned Revenue 50,000 75,000 18,000 43,000