Cash Prepaid Insurance 3,540 Accounts Payable 303,565 303,565 BB Common Stock 19,000 Salaries & Wages Expense 135,422 346,890 31,878 19,000 2,494,133 3,540 (19,000) Supplies Expense 4,792 Retained Earnings 303,565 26,000 10,500 3,540 46,945 81,600 64,440 1,386,168 81,800 4,792 127,914 86,500 3,250 Land 81,600 81,600 Salaries Payable 7,508 Insurance Expense (7,508) Building 10,500 10,500 Interest Payable 22,387 Bad Debt Expense 387 Furniture & Equipment 64,440 664,887 (22,387) Depreciation Expense Taxes Payable 86,500 Sales Revenue 2,546,320 (2,546,320) 64,440 Accounts Receivable 52,187 31,878 Computerized Sales System 81,800 81,800 Interest Expense 22,387 387 86,500 Cost of Goods Sold 1,698,575 1,698,576 19,922 Mortgage Note Payable 10,500 Accum Depr-Building Tax Expense 86,500 Allowance for Doubtful Accts 10,500 Note Payable 81,600 Accum Depr-Furn& Equip 81,600 Merchandise Inventory 1,772,598 1,698,575 74,022 Accum Depr-Sales System Supplies Inventory 4,792 4.792 Module 3 Assignment Excel Workbook MBA 6315 Part D. Complete a Multiple-Step Income Statement for 2019 based on your Pre-Closing Trial Balance. You should have a separate line item for each Account item included. (12 points- graded for accuracy and format, including Excel spreadsheet links) Check Figure: Net Income = $507,432. Solution: Cash Prepaid Insurance 3,540 Accounts Payable 303,565 303,565 BB Common Stock 19,000 Salaries & Wages Expense 135,422 346,890 31,878 19,000 2,494,133 3,540 (19,000) Supplies Expense 4,792 Retained Earnings 303,565 26,000 10,500 3,540 46,945 81,600 64,440 1,386,168 81,800 4,792 127,914 86,500 3,250 Land 81,600 81,600 Salaries Payable 7,508 Insurance Expense (7,508) Building 10,500 10,500 Interest Payable 22,387 Bad Debt Expense 387 Furniture & Equipment 64,440 664,887 (22,387) Depreciation Expense Taxes Payable 86,500 Sales Revenue 2,546,320 (2,546,320) 64,440 Accounts Receivable 52,187 31,878 Computerized Sales System 81,800 81,800 Interest Expense 22,387 387 86,500 Cost of Goods Sold 1,698,575 1,698,576 19,922 Mortgage Note Payable 10,500 Accum Depr-Building Tax Expense 86,500 Allowance for Doubtful Accts 10,500 Note Payable 81,600 Accum Depr-Furn& Equip 81,600 Merchandise Inventory 1,772,598 1,698,575 74,022 Accum Depr-Sales System Supplies Inventory 4,792 4.792 Module 3 Assignment Excel Workbook MBA 6315 Part D. Complete a Multiple-Step Income Statement for 2019 based on your Pre-Closing Trial Balance. You should have a separate line item for each Account item included. (12 points- graded for accuracy and format, including Excel spreadsheet links) Check Figure: Net Income = $507,432. Solution