Already completed requirement one please finish requirement to and requirement three thank you will up vote !

Travis Department Store Income Statement Year Ended December 31, 2024 390,000 $ 37,700 $ 297,000 112.000 6.200 chandise Inventory ses Purchase Returns and Allowances Purchase Discounts chases Freight in entory Purchased Available for Sale Merchandise inventory 178,800 600 179,400 217.100 36,500 Sold 180,500 209,400 xpenses 12.00 rative El EX Requirements penses penses Expens 1. Prepare Travis Department Store's multi-step income statement for the year ended December 31, 2024. Assume ending Merchandise Inventory is $36,500 2. Journalize Travis Department Store's closing entries. 3. Prepare a post-closing trial balance as of December 31, 2024. d (Expo alize Tre es and Print Done 390,000 Revenue ase Returns and Allowances ase Discounts ase Returns and Allowances se revenues and other credit accounts Travis Department Store uses a periodic inventory system. The adjusted trial balance of Travis Department Store at December 31, 2026. follows: Click the icon to view the adjusted trial balance) Read the requirements 5,200 Requirement 1. Preparo Travis Department Store's mult-stop income statement for the year anded December 31, 2024. Assume ending Merchandise Imientory $36,500. (Use a minus signor parentheses to show other expenses) Begin by calculating the gross profit, then complete the income statement in the next step Travis Department Store Income Statement Year Ended December 31, 2024 Net Sales Revenue 5 390,000 Cost of Goods Sold: Beginning Merchandise Inventory $ 37,700 Purchases $ 207.000 Less: Purchase Returns and Allowance 112,000 Purchase Discounts Net Purchases 178.800 Plus Freight in 600 Net Cost of inventory Purchased 178.400 Cost of Goods Avalable for Sale 217.100 Less Ending Merchandise Inventory 36,500 Cost of Goods Sold 180.600 Gross Profit 209 400 Operating Expenses Selling Expenses 42.600 Administrative Expenses 26.400 Total Operating Expenses 69000 Operating Income 140.400 Other Income and (Expenses Interest Expense Total Other Income and (Expenses) (3.100) Net Income (L03) 137.300 Requirement 2. Journalize Travis Department Store's closing entries. (Record dubits first, then credits, Select the explanation on the lit fice of the journal entry table) Start by closing revenues and other contra-expense accounts with credit balances. Date Accounts and Explanation Debit Credit Dec 31 Sales Revenue 300,000 Cios (1) Purchase Returns and Allowances Purchase Discounts Purchase Returns and Alowances 2.100 1 Data Table Travis Department Store Adjusted Trial Balance December 31, 2024 Balance Account Title Debit Credit Cash 7,900 Accounts Receivable 85,200 Merchandise Inventory (beginning) 37,700 Office Supplies 600 Furniture 89,000 Accumulated DepreciationFurniture $ 19,300 Accounts Payable 28,900 Salaries Payable 3,600 Unearned Revenue 14,600 Notes Payable, long-term 39,000 Common Stock 30,000 Retained Earnings 35,400 Dividends 88,900 Sales Revenue 390,000 Purchases 297.000 Purchase Returns and Allowances 112,000 Purchase Discounts 6.200 Freight in 600 Selling Expense 42,600 Administrative Expense 26,400 Interest Expense 3.100 $ 679,000 $ 679,000 Total 6.200 600 179,400 36,500 Requirement 1. Prepare Traws Department Store's multi-step income statement for the year ended December 31, 2024. Assume ending Merchandise Inventory is $36,500. (Use a minus sign or parentheses to show other expenses.) Begin by calculating the gross profit, then complete the income statement in the next step. Travis Department Store Income Statement Year Ended December 31, 2024 Net Sales Revenue $ 390,000 Cost of Goods Sold Beginning Merchandise Inventory $ 37,700 Purchases $ 297.000 Le Purchase Returns and Allowances 112.000 Purchase Discounts Net Purchases 178.800 Plus: Freight in Net Cost of Inventory Purchased Cost of Goods Available for Sale 217.100 Loss Ending Merchandise Inventory Cont of Goods Sold 180,600 Gross Profit 209.400 Operating Expenses Selling Expenses 42.600 Administrative Expenses 26.400 Total Operating Expenses 69.000 Operating Income 140.400 Other Income and (Expenses Interest Expense Total Other Income and (Expenses) 2.100) 137,300 Net Income (Loss) Requirement 2. Joumaliza Travis Department Store's closing entries (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Start by closing revenues and other contra-expense accounts with credit balances Date Accounts and Explanation Debit Credit Dec 31 Sales Revenue 390.000 Clos (1) Purchase Returns and Allowancen Purchase Discounts Purchase Returns and Allowances (3.100) To close revenues and other credit accounts