Chapter 6 pt.6

Blue Spruce Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the company's fiscal year on November 30, 2022, its accounting records included the following accounts and adjusted balances. Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Advertising Expense Cash Common Stock Cost of Goods Sold Freight-Out Equipment Depreciation Expense Dividends Gain on Disposal of Plant Assets Income Tax Expense Insurance Expense Interest Expense Inventory Notes Payable Prepaid Insurance Rent Expense Retained Earnings Salaries and Wages Expense Salaries and Wages Payable $ 21,976 14,104 55.760 27.470 6,560 28.700 503.726 5,084 128,740 11.070 9.840 1.640 8.200 7,380 4.100 21,484 35,670 4.920 27.880 11,644 95,940 4,920 Sales Returns and Allowances Sales Revenue Utilities Expense 16,400 741.280 8,692 Additional data: Notes payable are due in 2026. (a 1) Prepare a multiple-step income statement. (List other revenues before other expenses. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses es (451) BLUE SPRUCE DEPARTMENT STORE Income Statement BLUE SPRUCE DEPARTMENT STORE Income Statement Question 6 of 6