From the adjusted trial balance for Brookstone Art Supplies given below, prepare a multiple-step income statement....

Transcribed Image Text:

From the adjusted trial balance for Brookstone Art Supplies given below, prepare a multiple-step income statement. Brookstone Art Supplies Adjusted Trial Balance December 31 Debit Credit Cash $ 9,400 Accounts receivable. 25,000 Merchandise inventory 36,000 Office supplies 900 Store equipment 75,000 Accumulated depreciation-store equipment $ 22,000 office equipment 60,000 Accumulated depreciation-office equipment 15,000 Accounts payable 42,000 Notes payable 10,900 A. Brookstone, Capital 266,000 A. Brookstone, withdrawals 48,000 Sales Sales discounts Sales returns and allowances Cost of goods sold Selling expenses General and administrative expenses Interest expense Totals: 256,000 32,500 115,000 600 $ 680,900 325,000 6,000 16,500 $ 680,900 From the adjusted trial balance for Brookstone Art Supplies given below, prepare a multiple-step income statement. Brookstone Art Supplies Adjusted Trial Balance December 31 Debit Credit Cash $ 9,400 Accounts receivable. 25,000 Merchandise inventory 36,000 Office supplies 900 Store equipment 75,000 Accumulated depreciation-store equipment $ 22,000 office equipment 60,000 Accumulated depreciation-office equipment 15,000 Accounts payable 42,000 Notes payable 10,900 A. Brookstone, Capital 266,000 A. Brookstone, withdrawals 48,000 Sales Sales discounts Sales returns and allowances Cost of goods sold Selling expenses General and administrative expenses Interest expense Totals: 256,000 32,500 115,000 600 $ 680,900 325,000 6,000 16,500 $ 680,900