Big Papi Music Company uses a perpetual inventory system. The adjusted trial balance of Big Papi Music Company at June 30, 2024, follows: (Click the icon to view the adjusted trial balance.) Read the 1. Prepare Big Papi's multi-step income statement for the year ended June 30, 2024. 2. Journalize Big Papi's closing entries. 3. Prepare a post-closing trial balance as of June 30, 2024 . \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{\begin{tabular}{c} Big Papi Music Company \\ Adjusted Trial Balance \\ June 30,2024 \end{tabular}} \\ \hline \multirow[b]{2}{*}{ Account Title } & \multicolumn{3}{|c|}{ Balance } & \\ \hline & & Debit & \multirow[t]{2}{*}{ Credit } & \\ \hline Cash & $ & 4,500 & & \\ \hline Accounts Receivable & & 38,600 & & \\ \hline Merchandise Inventory & & 17,600 & & \\ \hline Estimated Returns Inventory & & 350 & & \\ \hline Office Supplies & & 650 & & \\ \hline Furniture & & 39,200 & & \\ \hline Accumulated Depreciation-Furniture & & $ & 8,700 & \\ \hline Accounts Payable & & & 13,600 & \\ \hline Refunds Payable & & & 850 & \\ \hline Salaries Payable & & & 900 & \\ \hline Unearned Revenue & & & 7,100 & \\ \hline Notes Payable, long-term & & & 14,000 & \\ \hline Common Stock & & & 10,000 & \\ \hline Retained Earnings & & & 27,650 & \\ \hline Dividends & & 43,500 & & \\ \hline Sales Revenue & & & 180,000 & \\ \hline Sales Discounts Forfeited & & & 600 & \\ \hline Cost of Goods Sold & & 81,000 & & \\ \hline Selling Expense & & 18,900 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline Sales Revenue & & & 180,000 \\ \hline Sales Discounts Forfeited & & & 600 \\ \hline Cost of Goods Sold & & 81,000 & \\ \hline Selling Expense & & 18,900 & \\ \hline Administrative Expense & & 17,500 & \\ \hline Interest Expense & & 1,600 & \\ \hline Total & $ & 263,400$ & 263,400 \\ \hline \end{tabular} Big Papi Music Company uses a perpetual inventory system. The adjusted trial balance of Big Papi Music Company at June 30, 2024, follows: (Click the icon to view the adjusted trial balance.) Read the 1. Prepare Big Papi's multi-step income statement for the year ended June 30, 2024. 2. Journalize Big Papi's closing entries. 3. Prepare a post-closing trial balance as of June 30, 2024 . \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{\begin{tabular}{c} Big Papi Music Company \\ Adjusted Trial Balance \\ June 30,2024 \end{tabular}} \\ \hline \multirow[b]{2}{*}{ Account Title } & \multicolumn{3}{|c|}{ Balance } & \\ \hline & & Debit & \multirow[t]{2}{*}{ Credit } & \\ \hline Cash & $ & 4,500 & & \\ \hline Accounts Receivable & & 38,600 & & \\ \hline Merchandise Inventory & & 17,600 & & \\ \hline Estimated Returns Inventory & & 350 & & \\ \hline Office Supplies & & 650 & & \\ \hline Furniture & & 39,200 & & \\ \hline Accumulated Depreciation-Furniture & & $ & 8,700 & \\ \hline Accounts Payable & & & 13,600 & \\ \hline Refunds Payable & & & 850 & \\ \hline Salaries Payable & & & 900 & \\ \hline Unearned Revenue & & & 7,100 & \\ \hline Notes Payable, long-term & & & 14,000 & \\ \hline Common Stock & & & 10,000 & \\ \hline Retained Earnings & & & 27,650 & \\ \hline Dividends & & 43,500 & & \\ \hline Sales Revenue & & & 180,000 & \\ \hline Sales Discounts Forfeited & & & 600 & \\ \hline Cost of Goods Sold & & 81,000 & & \\ \hline Selling Expense & & 18,900 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline Sales Revenue & & & 180,000 \\ \hline Sales Discounts Forfeited & & & 600 \\ \hline Cost of Goods Sold & & 81,000 & \\ \hline Selling Expense & & 18,900 & \\ \hline Administrative Expense & & 17,500 & \\ \hline Interest Expense & & 1,600 & \\ \hline Total & $ & 263,400$ & 263,400 \\ \hline \end{tabular}