AYAYAI ENTERPRISES Trial Balance December 31, 2024 \begin{tabular}{lr} & \multicolumn{1}{c}{ Debit } \\ Cash & $14,000 \\ Accounts receivable & 19,000 \\ Merchandise inventory & 37,000 \\ Prepaid insurance & 3,000 \\ Supplies & 2,800 \\ Equipment & 150,000 \end{tabular} Accumulated depreciation-equipment $35,000 Furniture 40,000 Accumulated depreciation-furniture 16,000 Accounts payable Unearned revenue Mortgage payable S. Smith, capital S. Smith drawings 40,000 Sales 265,000 Sales returns and allowances Sales discounts Cost of goods sold Interest expense Salaries expense Utilities expense $508,4505.000$508,450 1. There is $700 of supplies on hand on December 31,2024 2. The one-year insurance policy was purchased on March 1,2024. 3. Depreciation expense for the year is $10,000 for the equipment and $4,000 for the furniture. 4. Accrued interest expense at December 31,2024, is $650. 5. Unearned revenue of $950 is still unearned at December 31,2024 , On the amount that was earned, cost of goods sold was $1,700. 6. A physical count of merchandise imventory indicates $32,500 on hand on December 31,2024. 7. Ayayai Enterprises uses the perpetual imentory system and the earnings approach Prenare a multiole-steo income statement. (Enter negotive amounts using either a negative sign preceding the number es. -45 or pa