Exercise 13.3 (Algo) Preparing a classified income statement. LO 13-1 The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. Prepare a classified income statement for this firm for the year ended December 31, 20X1. The merchandise inventory amounted to $58,575 on January 1, 20X1, and $51,525 on December 31, 20X1. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. 401 Sales Accounts 451 Sales returns and allowances 491 Miscellaneous income 501 Purchases 502 Freight in $245,200 Cr. 4,230 Dr. 280 Cr. 102,400 Dr. 1,855 Dr. 503 Purchases returns and allowances 3,480 Cr. 504 Purchases discounts 1,680 Cr. 611 Salaries expense-Sales 44,100 Dr. 614 Store supplies expense 2,190 Dr. 617 Depreciation expense-Store equipment 1,390 Dr. 631 Rent expense 12,300 Dr. 634 Utilities expense 2,880 Dr. 637 Salaries expense-Office 640 Payroll taxes expense 643 Depreciation expense-Office equipment 646 Uncollectible accounts expense 691 Interest expense 19,900 Dr. 4,800 Dr. 450 Dr. 600 Dr. 500 Dr.