Prepare a classified balance sheet and multistep income statement using the Adjusted Trial Balance for ABC Corporation as of and for the year ended December 31, 2010.

Debits Credits Accounts Payable 11,000 Accounts Receiveable 8,000 Accumulated Depreciation- Buildings 60,000 Accumulated Depreciation= Equipment 5,000 Additional Paid-in Capital 5,000 Allowance for Doubtful Accounts 1,200 Bonds Payable 25,000 Buildings 180,000 Cash 14,000 Common Stock 10,000 Cost of Goods Sold 72,000 Depreciation Expense 10,500 Dividends 5,000 Equipment 15,000 Insurance Expense 6,000 Interest Expense 1,200 Interest Revenue 500 Inventory 5,000 Notes Payble (due 2013) 15,000 Patents 3,000 Prepaid Expenses 3,000 Rent Expense 18,000 Retained Earnings 32,150 Salaries Expense 45,000 Sales 225,000 Supplies 750 Unearned Revenues 400 Utilities Expense 4,800 = 390,250 = 390,250