2. a) Using the following information for Lestrade Enterprises, prepare an annual: Multiple-step income statement Retained earnings statement Classified balance sheet (7 points) Credit 20,000 Lestrade Enterprises, Inc. Adjusted Trial Balance December 31, 2020 Debit Cash 4,000 Accounts Receivable 15,000 Inventory 30,000 Prepaid Insurance 4,000 Supplies 3,000 Long-term Investment in Stock 6,000 Land 20,000 Buildings 120,000 Accumulated Depreciation- Buildings Patents 10,000 Accounts Payable Unearned Revenue Bonds Payable (due in 2025) Common Stock Retained Earnings Dividends 30,000 Sales Revenue Interest Revenue Sales Discounts 6,000 Sales Returns & Allowances 8,000 Cost of Goods Sold 188,000 Salaries and Wages Expense 21,000 Depreciation Expense 10,000 Utilities Expense 5,000 Insurance Expense 3,000 Supplies Expense 2,000 Interest Expense 1.000 486.000 10,000 2,000 20,000 80,000 44,000 305,000 5,000 486.000 - 3 - Date Account Titles Debit Credit Financial Accounting Practice quiz 3, Chapter 4. classified balance sheet: Chapter 5 15 points Name 1. On October Benji's Bicycle Store had an inventory of 20 ten-speed bicycles at a cost of $200 each. During the month of October, the following transactions occurred. Oct. 4 Purchased 40 bicycles at a cost of $200 cach from Monroe Bicycle Company, terms 1/10, n/30. 6 Sold 25 bicycles to Tearn Wisconsin for $330 ench, terms 2/10, n/30. 7 Received credit from Monroe Bicycle Company for the return of 2 bicycles. Issued a credit memo to Team Wisconsin for the return of a bicycle. The item is in usable condition and will be returned to stock. 13 14 Paid Monroe Bicycle Company in full, less discount 26 Received full payment due from Team Wisconsin Instructions: a) On the form provided on the following page, journalize the October transactions for Benji's Bicycle Store. Omit explanations. (6 points) b) Using the account form below, enter the Inventory balance at the beginning of October and the October transactions that affect this account. Calculate the balance at the end of October. (1 point) Inventory - 1