Based on the account balances provided, prepare a multi-step income

NEWCO’s adjusted account balances as of December 31, 2015 are shown below (some noted balances are Jan. 1, 2015):
    Sales . . . . . . . . . . . . . . . . . . . . . . . .1,200,000    Purchases . . . . . . . . . . . . . . . . . .  . .  810,000    Marketable securities . . . . . . . .. . . . .   15,000    Purchase discounts  . . . . .. . . . . . . . .   20,000    Purchase returns and allowances. . . .    2,000    Selling expenses  . . . . . . . . . . . . . . .  114,000    Cash  . . . . . . . . . . . . . . . . . . . . . . . . .   147,000    Accounts receivable . . .  . . . . . . . . . .   60,000    Common stock  . . .  . . . . . . . . . . . . .  150,000    Accumulated depreciation   . . . . . . . .   42,000    Paid-in-capital in excess of par    . . . .   30,000    Inventory, January 1, 2015  . . . . . . . .  149,000    Inventory, December 31, 2015. . . . . .  120,000    Accounts payable   . . . . . . . . . . . . . . .   71,000    Salaries payable  . . . . . . . . . . . . . . . . .    5,000    Patents . . . . . . . . . . . . . . . . . . . . . . . . .  18,000    Retained earnings, January 1, 2015. . .   60,600    Interest expense  . . . . . . . . . . . . . . . . . . 13,000    General and administrative expenses. . 160,000    Dividend revenue. . . . . . . . . . . . . . . . . .    6,000    Allowance for doubtful accounts . . . . .     3,000    Notes payable (maturity 7/1/2016) . . . . 105,000    Machinery and equipment . . . . . . . . . .  150,000    Income tax expense  . . . . . . . . . . . . . .    30,600    Treasury stock  . . . . . . . . . . . . . . . . . . .   10,000    Dividends declared and paid . . . . . . . . .  18,000
Based on the account balances provided, prepare a multi-step income statement and a classified balance sheet. Note: A “multi-step” income statement is one that shows Net Sales, Cost of Goods Sold, Gross Profit, Total Operating Expenses, Net gain/loss from other activities (if applicable), Income before taxes, Income tax expense, and Net Income.