Preparing a multi-step income statement and a classified balance sheet← Link Back to Chapt...

Preparing a multi-step income statement and a classified balance sheet

← Link Back to Chapter 4 (Classified Balance Sheet). The accounts of Smith Electronics Company are listed along with their balances before closing for the month ended October 31, 2012.

Requirements

1. Prepare Smith Electronics’ multi-step income statement.

---

2. Prepare Smith Electronics’ statement of owner’s equity.

---

3. Prepare Smith Electronics’ classified balance sheet in report form.