Moran Enterprises Inc. has the following account balances and other information

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    Moran Enterprises Inc. has the following account balances and other information in alphabetical order at Dec. 31 2012. All balances are as of the end of the year except Retained Earnings.
    Moran Enterprises Inc. has the following account balances and other information in alphabetical order at Dec. 31 2012. All balances are as of the end of the year except Retained Earnings. Accounts Payable $15000
    Accounts Receivable $ 24000
    Cash 12000
    Capital Stock 65000
    Cost of goods 120000
    Equipment net of accumulated depreciation 75000
    Dividends 14000
    Income tax expense 10000
    Interest expense 5000
    Inventory 33000
    Operating expenses
    Retained earning Jan 1 2012 $19000
    Sales revenue 220000
    Unearned revenue 21000
    Required: Prepare a multi-step income statement and a classified balance sheet in proper form using accrual accounting.
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