income statement, statement of owners equity, balance sheet

Accounting l-REVIEW of Accounting ! comprehensive problem Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. as of May 1, 2016 (unless otherwise indicated), are as follows Palisade Creek Co. Trial Balance /5-30-16 Original Adjusted Trial Balances Credit (c) 84,500 83,600 Cash 245,875 23,900 AR 570,000 624,400 Merch Inv 50,200 28,000 Estimate Returns Inventory 4,800 16,800 Prepaid Insurance 4,000 11,400 Store supplies 569,500 569,500 Store equipment S 70,700 56,700 Accum. depreciation- store equipment 63,150 96,600 Accounts payable 13.600 Salaries payable Customer refunds payable 89 270 50,000 685,300 Tolley, Capital 135,000 135,000 Tolley, withdrawals (drawing 5,316 205 5,069,000 Sales 2,823,000 664,800 2,991950 27 800 Cost of merchandise sold (COGS/COMS) Sales salaries expense 281,000 292,000 Advertising expense 4,000 Depreciation expense 9,800 Store supplies expense 12,600 2,600 Misc. Selling expenses Office salaries expense 382,100 417,700 8,700 2,000 83,700 Rent expense Insurance expense 7, 800 Misc. Admin expenses TOTALS 6,238,225S 6238.225 Check figure for May transactions:total DR/CR $1,177,715(May transactions 1-31 only) Check figure for adjusting entries: total DR/CR $158,350 (adjusting entries total only)