5 Problem 5-5A Income statement calculations and formats-perpetual LO5 The following amounts appeared on Davison Company's adjusted trial balance as of October 31, 2020, the end of its fiscal year: Merchandise inventory Other assets Debit Credit $16,800 264,800 Liabilities $ 79,200 ook Brenda Davison, capital 211,600 Brenda Davison, withdrawals 65,800 ences Interest income 1,200 Sales 432,000 Sales discounts 7,300 Sales returns and allowances i 28,800 Cost of goods sold. 170,100 Sales salaries expense 52,800 Rent expense, selling space 19,800 Store supplies expense 5,800 Advertising expense Office salaries expense. Office supplies expense) Totals 30,200 53,800 Rent expense, office space 6,000 2,000 $724,000 $724,000