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4 of Score: 0 of 5 pts X P5B-40A (book/static) Triton Department Store uses a periodic inventory system. The adjusted trial balance of Triton Department
4 of Score: 0 of 5 pts X P5B-40A (book/static) Triton Department Store uses a periodic inventory system. The adjusted trial balance of Triton Department Store at (Click the icon to view the adjusted trial balance.) Read the requirements. Begin by calculating the gross profit, then complete the income statement in the next step. Triton Department Store Income Statement Year Ended December 31, 2018 Net Sales Revenue 374,000 Less: Purchase Returns and Allowances 109,000 Plus: Less: Gross Profit Choose from any list or enter 2011 Data Table Data Table Triton Department Store Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash $ 8,200 84.600 37.800 850 86,000 18,500 29.400 Accounts Receivable Merchandise Inventory (beginning) Office Supplies Furniture Accumulated Depreciation --Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Purchases 2,300 14.900 36.000 60.000 22,850 88,600 374,000 295,000 109,000 6,400 Purchase Returns and Allowances Purchase Discounts Freight in Selling Expense Administrative Expense Interest Expense 300 41,700 26.800 3.700 Total 673,350 $ 673,350
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