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Required Use the following information to prepare a multistep income statement and a classified balance sheet for Eller Equipment Co. for Year 1. (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 Accumulated depreciation Notes payable (long term) Salvage value of building Interest payable (short term) Uncollectible accounts expense Supplies Equipment Interest revenue Sales revenue Dividends Warranty expense Interest receivable (short term) $113,008 Beginning retained earnings 101,000 Warranties payable (short term) 23,500 Gain on sale of equipment 10,000 Operating expenses 57,000 Cash flow from investing activities 151, eee Prepaid rent 12.mee Land 7,eee Cash 36,eee Inventory 5,600 Accounts payable 225,900 Interest expense 5.300 Salaries payable 922, eee Unearned revenue 11,ese Cost of goods sold 8,300 Accounts receivable 2,700 Depreciation expense $ 52.100 5,6ee 1e, eee 56.ee 107.eee 29.000 86,000 39,900 113,000 46. eee 27, eee 59. eee 38.eee 586, cee 99,00 2,100 Complete this question by entering your answers in the tabs below. Income Statement Balance Sheet Prepare a multistep income statement for Eller Equipment Co. for Year 1. (Amounts to be deducted should be indicated with a minus sign.)

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