5. (Multiple-step and Extraordinary Items) The following balances were taken from the books of Schimank Corp. on December 31,2017. Assume the total effective tax rate on all items is 34%. Instructions Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. Adjustment data: 1. Supplies on hand totaled $2,200. 2. Depreciation is $6,800 on the equipment. (Selling expense) 3. Interest of $3,800 is accrued on notes payable at June 30 . Other data: 1. Salaries and wages expense is 60% selling and 40% administrative. 2. Rent expense and utilities expense are 70% selling and 30% administrative. 3. $10,000 of notes payable are due for payment next year. 4. Maintenance and repairs expense is 100% administrative. Instructions (a) Joumalize the adjusting entries, (b) Prepare an adjusted trial balance. (c) Prepare a multiple-step income statement and retained earnings statement for the year and a classified balance sheet of June 30,2020 . (d) Joumalize the closing entries. (e) Prepare a post-closing trial balance