iew History Bookmarks Window Help Accounting Question Forum Ch 04 Homework Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completi Required information Problem 4-5A Preparing adjusting entries and income statements; computing gross margin, acid-test and current ratios LO A1, A2, P3, P4 The following information applies to the questions displayed below The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company NELSON COMPANY Unadjasted Trial Balance January 31, 201 Merchandise inventory Store supplies Prepaid insurance Store equipment Aocumulated depreclatLon-store equipment 14,500 2.700 s 16,650 Retained earninga 116,40 sales discounts 2,000 Cost of goods sold 26,500 12,000 Rent expense and salaries expense are equaly divided between seling activities and general and administrative activities. Nelson Company uses a perpetual inventory system C Prev8 of 8 Next 2 3 4 5 6 8 0