GLO503-Based on Problem 5-5A Nelson Company LO C2, P3 The fiscal year-end unadjusted trial balance for Nelson Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2017, follow a. Store supplies still available at fiscal year-end amount to $2,250 b. Expired insurance, an administrative expense, for the fiscal year is $1,600. c. Depreciation expense on store equipment, a selling expense, is $6,900 for the fiscal year d. To estimate shrinkage, a physical count of ending merchandse inventory is taken. It shows $10.430 of inventory is still available at fiscal year-end umentenmal General General Trial Balance Trial Balance Multiple Step Single Step IS balance Sheet Ratios Journal General Journal tab- Prepare any necessary adjusting entries. Multiple step Income Statement tab- Prepare a multiple step income statement. single-step Income Statement tab- Prepare a single-step income statement using the values from the multiple-step income statement. Balance Sheet tab Prepare a dlassified balance sheet. Ratio tab - Calculate the current ratio, the acid-test ratio, and the gross margin ratio. General .Journal >