Financial Statements Preparation - The following accounts were taken from the trial balance of Milton Imported Goods, a calendar year business, as of December 31, 2014 (disregarding effect of income taxes). Unsold Merchandise Inven tory at yearend amounted to P75,000. Debit Credit Accounts Payable + 174,000 Accounts Receivable P 126,000 180,000 Accumulated Depreciation - Delivery Equipment Accumulated Depreciation - Furniture and Fixtures Allowance for Doubtful Accounts 46,800 21,000 Cash 175,000 90,000 Depreciation Expense - Delivery Equipment Depreciation Expense - Furniture and Fixtures Delivery Equipment 23,400 950,000 Discount Lost 3,700 Doubtful Accounts Expense 6,000 Freightin 74,600 Foghout Future and Fures Good OL-Store interest income 130.000 55.000 Receivable 12.000 12.000 Investment Income Investment in Trading Securities 4.500 90.000 1. Capital Drawing 3 Merchandise Inventory, January 1 35,000 120.000 Not Receivable - due in two years 120.000 Office Supplies Purchases 8,000 435.000 Purchase Discount 15.000 Purchase Discount last 5.200 Purchase Returns and Allowances 8.500 Rent Expense - Store 144,000 234.000 Salaries Expense - Store Salaries Expense - Office 78,000 Salaries Payoble 12.000 Sales 1,580,000 Sales Discount 19,300 9,500 Sales Returns and Allowances 77,500 Uklinies Expense 23,064,100 93,064,100 Totals . . Prepare the following Income Statement natural form: Statement of Changes in Owner's Equity Statement of Financial Position - report form and Notes to Financial Statements - . . REVIEW OFFINS