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Selected transactions of G. Calma Trading during the first 15 days of January 2011 were as follows: Cash sales of merchandise Sales of merchandise on account Store supplies purchased on account Purchase of merchandise for cash Purchase of merchandise on account Freight paid on merchandise purchased Purchase discounts enjoyed Wages paid for the period 1 ,800 3,900 Defective merchandise returned by customer, sold on account Returned defective merchandise purchased for cash Transactions during the second half of the month: Cash sales Sales on account Freight paid on cash sales Purchases: 1. P 35,000, terms 2/10, n/30 (paid within discount period) P 50,000 15,000 2,500 40,000 20,000 10,000 1 ,300 1,000 105,000 27,000 1 ,400 2. P 8,000, terms 10 10%, 5/5, n/30(paid within discount period) 3 P 9,000, terms 1/10, n/30 (paid beyond discount period) 4. P 12,000 cash purchases, FOB destination (freight, P 1,200) Wages paid for the second half of the month Unpaid wages at the end of month Utilities expense for the month (unpaid) Interest earned on deposits Additional information: Merchandise inventory at the beginning of the month Merchandise inventory at the end of the month Store supplies on hand at the end of the month REQUIRED: 10,000 1 ,800 1 ,800 1 ,200 8,000 42,000 900 Prepare a multi-step income statement for the period ended January 31 , 2011. Accounting I Principles of Accounting 1