B PERPETUAL INVENTORY SYSTEM NAME: Adjustments Unadjusted trial Balance Dr. Gr. 950 Adjusted Trial Balance Dr. Cr Income Statement De Balance Sheet Dr. C Dr. C. 1,610 4,050 380 8.000 1.600 2,010 4. 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 8,300 1,500 48,000 Cash Accounts Receivable Inventory Prepaid Insurance Equipment Acoum. Depreciation Equip Accounts Payable Wares Payable Capital withdrawals Sales Sales Returns & Allowances Sales Discounts Cost of Goods Sold Insurance Expense Portare Expense Advertising Expense Rent Expense Wares Expense Utilities Expense Depreciation Expense Sheet1 1,200 800 11,550 700 1.600 1.900 000 1700 24 25 26 o Type here to search H D A E F G H B Utilities Expense Depreciation Expense C 1,700 59,90 59,940 Totals Net income Totals Required Adjustment Data: a) Insurance Expired $200 b) Equipment Depreciation $800 c) Accrued Wages - $500 d) Ending merchandise inventory cerst (per physical count) $4,000 1. Complete the worksheet using the adjustment data given. 2. Prepare an Income Statement below. 3. Submit in Blackboard ACME SPORTING GOODS INCOME STATEMENT FOR YEAR ENDED 12/31/20 REVENUE COST OF GOODS SOLD REVENUE COST OF GOODS SOLD GROSS PROFIT EXPENSES NET PROFIT Sheet1