Information provided to complete statement of retained earnings and balance sheet

Meyer's Home Supply Company Worksheet December 31, 2020 Account Cash Accounts Receivable Office Supplies Prepaid Store Insurance Inventory Store Equipment Accumulated Depreciation - Store Equipment Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Salaries Payable Unearned Revenue Note Payable (Due in 3 years) Common Stock Retained Earnings Dividends Sales Sales Returns and Allowances Cost of Goods Sold Advertising Expense Depriciation Expense - Office Equipment Depreciation Expense - Store Equipment Sales Salaries Expense Office Salaries Expense Sells Department Rent Expense Administration Rent Expense Store Insurance Expense Office Supplies Expense Trail Balance Debit Credit $ 32,800 $ 45,000 $ 1,100 $ 3,600 $ 52,000 $ $ 120,000 $ 80,000 $ 88,000 $ 32,500 $ 28,300 $ $ 24,000 $ $ 50,000 $ 20,000 $ 32,200 $ 10,000 $ 885,000 $ 36,000 $ 460,000 $ 36,000 $ $ $ $ $ 88,500 $ $ 120,000 $ $ 32,000 $ 27,000 $ $ $ $ $ 1,152,000 $ 1,152,000 $ Adjustments Adjusted Trial Balance Debit Credit Debit Credit $ 32,800 $ 45,000 $ 670 $ 430 $ 2,800 $ 800 1,200 $ 53,200 $ 120,000 $ 15,500 $ 95,500 $ 88,000 $ 10,000 $ 42,500 $ 28,300 $ 5,000 $ 5,000 12,000 $ 12,000 $ 50,000 $ 20,000 $ 32,200 $ 10,000 $ 12,000 $ 897,000 $ 36,000 $ 1,200 $ 458,800 $ 36,000 10,000 $ 10,000 15,500 $ 15,500 2,500 $ 91,000 2,500 $ 122,500 $ 32,000 $ 27,000 2,800 $ 2,800 670 $ 670 47,170 $ 47,170 $ 1,182,500 $ 1,182,500 Meyer's Home Supply Company Multi-Step Income Statement For the Year Ending December 31, 2020 $ 897,000 $ 36,000 $ 861,000 $ 458,800 $ 402,200 Sales Less: Sales Returns and Allowances Net Sales Less: Cost of Goods Sold Gross Proft Operating Expenses Selling Expenses: Advertising Expense Depreciation Expense-Store Equipment Sales Salaries Expense Sells Depreciation Rent Expense Store Insurance Total Selling Expenses General and Administrative Expenses: Depreciation Expense-Office Equipment Office Salaries Expense Administrative Rent Expense Office Supplies Expense Total General and Administrative Expenses Total Operating Expenses Income from operations $ 36,000 $ 15,500 $ 91,000 $ 32,000 $ 2,800 $ 177,300 $ 10,000 $ 122,500 $ 27,000 670 $ $ 160,170 $ 337,470 $ 64,730