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Instruction: Prepare a Multi-Step Statement of Comprehensive Income for this merchandising business. Accounts selected from the December 31, 2019 trial balance of the Victoriano Navarette

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Instruction: Prepare a Multi-Step Statement of Comprehensive Income for this merchandising business. Accounts selected from the December 31, 2019 trial balance of the Victoriano Navarette Company are listed below: Php 9,630,000 4,720,000 2,170,000 1,430,000 1,140,000 920,000 460,000 320,000 Sales Purchases Merchandise Inventory, 1/1/2019 Merchandise Inventory, 12/31/2019 Salaries Expense - Selling Salaries Expense - General Office Supplies Expense Depreciation Expense - Office Equipment Sales Returns and Allowances Insurance Expense Sales Discounts Transportation Out Depreciation Expense - Store Equipment Purchase Returns and Allowances Selling Supplies Expense Purchase Discounts Transportation in Miscellaneous Expense 280,000 55,000 210,000 170,000 160,000 110,000 80,000 70,000 50,000 30,000

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