Comprehensive Problem for Chapters F:5 and F:6 The Davis Lamp Company (DLC), owned by Jenny Davis, is a wholesale company that purchases lamps from the manufacturer and resells them to retail stores. The company has three inventory items: desk lamps, table lamps, and floor lamps. DLC uses a perpetual inventory system- FIFO method. DCL owns land with a building, which is separated into two parts: office space and warehouse space. All expenses associated with the office are categorized as Administrative Expenses. All expenses associated with the warehouse, which is used for the shipping and receiving functions of the company, are categorized as Selling Expenses. In addition to the land and building, DLC also owns office furniture and equipment and warehouse fixtures. The company uses one accumulated depreciation account for all the depreciable assets. The trial balance for DLC as of September 30, 2024 follows: Account Cash Accounts Receivable DAVIS LAMP COMPANY Trial Balance September 30, 2024 Balance Debit Credit $ 457,000 0 Merchandise Inventory 126,000 Office Supplies 275 Warehouse Supplies 350 Land 20,000 Building 780,000 Office Furniture and Equipment 125,000 Warehouse Fixtures 260,000 Accumulated Depreciation $194,000 Accounts Payable 0 Davis, Capital 398,925 Davis, Withdrawals 0 Sales Revenue 2,654,150 Cost of Goods Sold 1,061,450 Salaries Expense-Selling 270,000 Utilities Expense-Selling 32,000 Supplies Expense-Selling 0 Depr