Prepare a 2007 classified balance sheet and multistep income statement. Use the

Prepare a 2007 classified balance sheet and multistep income statement. Use the account balances from the unadjusted trial balance and the additional Northco Company information. Do not record and entries only prepare the financial statements.Additional Northco Company Info.The sales account included an 800000 (net of tax) loss due to a flood destroy the facitlity in Rio. Historcally this has never happened before.The account gain/loss from sale of investments included the selling of a small division (a segment of Northco that makes the packaging envelopes) for 4 million. Prior to the sale the division had generated income of 1 million