Blue Company had the following account balances at year-end: Cost of Goods Sold $61,350, Inventory $17,960, Utilities Expense $32,910, Sales Revenue $124,050, Sales Discounts $1,490, and Sales Returns and Allowances $2,110. A physical count of inventory determines that merchandise inventory on hand is $12,520. They use the perpetual inventory system. (a) Prepare the adjusting entry necessary as a result of the physical count. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Presented below is selected information for Bramble Company for the month of March 2022. Cost of goods sold $194,510 Rent expense $32,720 Freight-out 7,150 Sales discounts 8,000 Insurance expense 5,680 Sales returns and allowances 12,000 Salaries and wages expense 57,060 Sales revenue 387,000 (a) Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) BRAMBLE COMPANY Income Statement $ $ $