Chapter 4 Assignment 1. PR.04-04 2. PR.04-04.Algo eBook Multiple-Step Income Statement and Report Form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Prescott Inc. for the fiscal year ended September 30, 2018: Cash Accounts Receivable Inventory Estimated Returns Inventory Office Supplies $187,875 Retained Earnings (as of Sept. 30, 2017) $571,050 337,500 Dividends 850,500 Sales Prepaid Insurance Office Equipment Accumulated Depreciation- Office Equipment Store Equipment Accumulated Depreciation- Store Equipment Accounts Payable Customer Refunds Payable Salaries Payable Note Payable (due evenly over next 5 years) Common Stock Instructions: 281,250 8,025,750 78,750 Cost of Goods Sold 4,893,750 33,750 Sales Salaries Expense 874,800 27,000 Advertising Expense 103,275 259,200 Depreciation Expense-Store Equipment 18,675 111,375 Miscellaneous Selling Expense 1,150,875 Office Salaries Expense 4,500 174,150 120,075 Rent Expense 89,775 109,350 Insurance Expense 51,638 78,750 Depreciation Expense- Office Equipment 36,450 21,600 Office Supplies Expense 3,712 117,000 Miscellaneous Administrative 33,750 Interest Expense 4,275 27,000 1. Prepare a multiple-step income statement. Prescott Inc. Income Statement For the Year Ended September 30, 2018 Oneration exnenses! Progress: 2/2 items Check My Work Assignment Score: 34.89% Previous All work saved. Save and Exit Submit Assignment for Grading