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From the adjusted trial balance for Brookstone Art Supplies given below. prepare a multiple-step income statement in good form. Cash Accounts receivable Merchandise inventory

From the adjusted trial balance for Brookstone Art Supplies given below. prepare a multiple-step income statement in good form. Cash Accounts receivable Merchandise inventory Office supplies Store equipment Accumulated depreciation-store equipment Office equipment Brookstone Art Supplies Adjusted Trial Balance December 31 Accumulated depreciation-office equipment Accounts payable Notes payable Common stock Debit $9,400 25,000 36,000 900 75,000 60,000 Credit $22,000 15,000 42,000 10,000 10,000 Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Selling expenses General and administrative expenses Interest expense Totals 48,000 5,000 15,500 187,000 32,500 19,800 600 100,700 315,000 $514.700 $514.700

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