a)

b)

The following selected accounts from Okanagan Corporation's general ledger are presented below for the year ended December 31, 2021: $259,700 749,210 53,900 245,000 1,148,560 122,500 Accounts receivable Accumulated depreciation equipment Advertising expense Common shares Cost of goods sold Depreciation expense Dividends declared Equipment Freight out Income tax expense Insurance expense Interest expense 147,000 1,421,000 24,500 68,600 22,540 60,760 Interest income 29,400 Inventory 95,060 30,380 23,520 Prepaid expenses Rent income Retained earnings Salaries expense Sales 524,300 690,900 2,537,710 (a) Prepare a single-step statement of income. Okanagan Corporation Statement of Income (Single-step) $ e Textbook and Media List of Accounts Okanagan Corporation Income Statement (Multiple-step) $