The adjusted trial balance of Feagler Company for the year ended December 31, 2019, is as follows.

Instructions
Prepare a multiple-step income statement and retained earnings statement for 2019, and a classified balance sheet as of December 31, 2019.

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Debit Credit Cash Accounts Receivable Note Receivable (due February 20, 2020) Inventory Timberland 5,500 3,100 2,000 6,000 21,000 14,000 35,400 11,000 Equipment Patents Accumulated Depletion Allowance for Doubtful Accounts Accumulated Depreciation-Equipment Notes Payable (due January 15, 2020) Accounts Payable Common Stock Retained Earnings Sales Revenue Interest Revenue Cost of Goods Sold Salaries and Wages Expense Depreciation Expense Amortization Expense Research and Development Expense Bad Debt Expense License Expense Interest Expense Loss on Disposal of Plant Assets $ 3,900 1,000 8,300 4,600 2,300 60,000 8,500 52,000 23,000 11,400 2,100 1,600 1,300 800 2,000 $141,000 Total $141,000