gross profit nopreating rey #2 For 1/2% prepare a multiple step Statement of Earnings from the following account balances. MIKE COMPANY LTD. Adjusted Trial Balance July 31, 2020 operating expense income before fox Cash - Assets Accounts receivable $ 30,757 Non ..9 Inventory ......As....... 24,260 Estimated Inventory Retums labin 17,000 -Net income Supplies JARA 1,000 before tox Prepaid insurance..Andex 17,620 Land Assetuler.de 5,000 100,000 Buildings............ Asset Accumulated depreciation-buildings. Hy 165,000 Equipment Asse...:P $ 143,000 44,520 Accumulated depreciation equipment...... Vehicles. Aaset Quality 21,070 52,500 Accumulated depreciation--vehicles...llaby..... 4,200 Accounts payable ...lability 8,000 Refund liability - Tality 890 Deferred revenue Day... 1.200 Salaries payable ........ 800 - Interest payable..... ality 50 Income tax payable 15.500 Bank loan payable La 22,500 Mortgage payable lab... 53,200 Common shares Libility.../equity 300 Retained earnings.com 176,084 Rent income...... 500 Service revenue......... 56,350 Sales........ 13.080 ales - Cost of goods sold...... 9.200 -GP 3.880 28.946 Office expense... 1,000 Utilities expense 1,202 Freight Out expense 1505 913 Advertising expense... Insurance expense. 500 495 Property tax expensex 446 Interest expense 5.815 Income tax expense....tax. cogood (-) Salaries expense exeon 22 GE 31- Shoping costs PAGE 3 ACCT 215 CHAPTER 5 ASSIGNMENT