Additional Information: a. Store supplies still available at fiscal year-end amount to $2,700. b. Expired insurance, an administrative expense, is $1,550 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1,575 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,100 of inventory is still available at fiscal year-end. Required: 1. Using the above information, prepare adjusting journal entries. 2. Prepare a multiple-step income statement for the year ended January 31 that begins with gross sales and includes separate categories for net sales, cost of goods sold, selling expenses, and general and administrative expenses. 3. Prepare a single-step income statement for the year ended January 31.

Additional Information: a. Store supplies still available at fiscal year-end amount to $2,700. b. Expired insurance, an administrative expense, is $1,550 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1.575 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. it shows $10,100 of inventory is still available at fiscal year-end. Required: 1. Using the above information, prepare odjusting journal entries. 2. Prepare a multiple-step income statement for the year ended January 31 that begins with gross sales and includes separate categories for net sales, cost of goods sold, selling expenses, and generat and administrative expenses. 3. Prepare a single-step income statement for the year ended January 31 . Additional Information: a. Store supplies still available at fiscal year-end amount to $2,700. b. Expired insurance, an administrative expense, is $1,550 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1.575 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. it shows $10,100 of inventory is still available at fiscal year-end. Required: 1. Using the above information, prepare odjusting journal entries. 2. Prepare a multiple-step income statement for the year ended January 31 that begins with gross sales and includes separate categories for net sales, cost of goods sold, selling expenses, and generat and administrative expenses. 3. Prepare a single-step income statement for the year ended January 31