After preparing the adjusting entries for Economy Small Engine Repair (ESER), you prepared the following adjusted trial balance: (From Lab 3) Economy Small Engine Repair Ltd. Adjusted Trial Balance December 31, 2020 Dr. $13,117 1,900 1,250 800 6,250 $247 2,500 Account Name Cash Accounts receivable Inventory Prepaid insurance Repair equipment Accumulated depreciation - baking equipment Computer equipment Accumulated depreciation - computer equipment Accounts payable Income tax payable Unearned revenue Bank loan payable Common shares Dividends Repair revenue Advertising expense Purchases Purchase returns and allowances Freight in Depreciation expense Income tax expense Insurance expense Interest expense Utilities expense Sundry expense 278 485 3,500 500 5,000 15,000 9,500 23,150 350 7,500 400 50 525 3,500 400 83 235 600 $48,560 $48,560 Tasks 1. Based on the adjusted trial balance, you decided to prepare ESER's first multiple step income statement in good form). Note that Bob is using a Periodic Inventory system. A count of the inventory December 2021 was valued at $1,450