BUSN 2100 Chapter 5 PowerPoin x Written Assignment 1.docx.pdf X C BUSN 2100 Chapter 5 PowerPoin x + File C:/Users/manee/Downloads/Written%20Assignment%201.docx.pdf Q M: Written Assignment 1.docx.pdf 1/5 75% + le : Problem 1 The following information is available for Lampton Limited for the year ended March 31, 2021: LAMPTON LIMITED Adjusted Trial Balance March 31, 2021 DEBIT CREDIT Accounts payable $3,000 Accounts receivable $7,500 Accumulated depreciation, equipment 8,000 Depreciation expense 3,500 1 Sales discounts Cash Cost of goods sold Equipment 300 1,300 75,000 75,895 Income tax expense 215 Insurance expense 250 40 31,200 Interest expense Retained earnings Inventory Notes payable 2,200 6,000 2 Rent expense 160 Rent payable 120 120 Salaries expense Sales Sales returns and allowances 120,000 1,500 Supplies 300 Supplies expense 40 $168,320 $168,320 3 Prepare a multiple-step income statement for Lampton Limited | 0 1 Type here to search jj E . 8C ENG 2:45 AM 2021-11-08