Homework: Week Three: Chapter 5: Problems Score: 0 of 1 pt 4 of 8 (0 complete) P5A-37A (similar to Triton Department Store uses a periodic inventory system. The adjusted trial balance of Triton Department Store at December 31, 2016, follows: (Click the icon to view the adjusted trial balance.) Read the requirements her expenses.) Requirement 1. Prepare Triton Department Store's multi-step income statement for the year ended December 31, 2016. Assum Begin by calculating the gross profit, then complete the income statement in the next step. - X i Data Table Triton Company Income Statement Year Ended December 31, 2016 Triton Department Store Adjusted Trial Balance December 31, 2016 Less: Balance Account Title Debit Credit Cash S 8.000 85,100 37.700 600 Less: 81,000 S 18.700 29,400 Plus: 2.700 14,500 35,000 Less 59,150 Accounts Receivable Merchandise Inventory (beginning) Office Supplies Furniture Accumulated DepreciationFurniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Triton, Capital Triton, Withdrawals Sales Revenue Sales Returns and Allowances Sales Discounts Purchases Purchase Returns and Allowances Purchase Discounts Freight in Selling Expense Administrative Expense 89,300 Gross Profit 395.000 6,300 4,800 284.000 Requirements 109,000 6,600 550 1. Prepare Triton Department Store's multi-step income statement for the year ended December 31, 2016. Assume ending Merchandise Inventory is $38.200 2. Journalize Triton Department Store's closing entries 42.200 26,600 3.900 Interest Expense Print Done Total S 670,050 S 670,050 Print Done Choose from any list or enter any number in the input fields and then click Check