Cash Accounts Receivable 3,800 38,700 17,200 750 39,800 8,800 13,100 500 7,400 Merchandise Inventory Office Supplies Furniture Accumulated DepreciationFurniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Cost of Goods Sold Selling Expense Administrative Expense 18,000 8,000 8,550 42,600 187,000 74,800 19,200 13,000 1,500 Interest Expense $ 251,350 $ 251,350 Tatal Requirement 1. Prepare Proud Pappa's multi-step income statement for the year ended June 30, 2018. (Use a minus sign or parentheses to show other expenses.) Proud Pappa Music Company Income Statement Year Ended June 30, 2018 Net Income (Loss) Requirement 2. Journalize Proud Pappa's closing entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Do not close the expenses; this will be done in the next step. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (1) Close expenses for the period. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (2) Close Income Summary. Close Income Summary. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (3) Close Dividends. Date Accounts and Explanation Debit Credit Jun. 30 Clos. (4) Requirement 3. Prepare a post-closing trial balance as of June 30, 2018. Proud Pappa Music Company Post-Closing Trial Balance June 30, 2018 Balance Account Title Debit Credit i Requirements 1. Prepare Proud Pappa's multi-step income statement for the year ended June 30, 2018. 2. Journalize Proud Pappa's closing entries. 3. Prepare a post-closing trial balance as of June 30, 2018. Print Print Done Done