13 Meilleur uses a perpetual inventory system. The following is a list of the accounts and balances taken from the adjusted trial balance at December 31, 2017 for Meilleur Merchants. The list of accounts is in alphabetical order. All accounts have normal balances. Account Balance Dec. 31 1 Accounts payable 2 Accounts receivable 15,000 30,000 3 Accumulated depreciation-building 15,500 4 Accumulated depreciation-equipment 10,000 5 Advertising expense 4,100 6 Building 84,600 7 S. Meilleur, capital 75,000 8 S. Meilleur, drawings 28,300 9 Cash 4,500 10 Cost of goods sold 235,100 11 Depreciation expense 6,000 12 Equipment 24,500 13 Freight out 650 14 Insurance expense 1,050 15 Interest expense 2,120 16 Interest revenue 940 17 Land 12,000 18 Merchandise inventory 105,000 19 Mortgage payable 57,600 20 Prepaid insurance 2,100 21 Property tax expense 1,400 22 Property taxes payable 600 23 Rent revenue 1,400 24 Salaries expense 41,300 25 Salaries payable 650 26 Sales 423,600 27 Sales discounts 15,300 28 Sales returns and allowances 18,000 29 Unearned revenue 23,000 2,100 30 Utilities expense Prepare a multiple-step income statement for Meilleur Merchant for the year ended December 31, 2017. Prepare a multiple-step income statement for Meilleur Merchant for the year ended December 31, 2017. MEILLEUR MERCHANTS Income Statement 10 $ 69 > > > > > > > > > >