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Instructions: Please prepare a Multi-Step Income Statement on your scratch paper based on the following Partial Adjusted Til Balance Use this multi-step income statement to

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Instructions: Please prepare a Multi-Step Income Statement on your scratch paper based on the following Partial Adjusted Til Balance Use this multi-step income statement to answer this question and the next two (2) questions. You will need to calculate 1. Gross Pront 21 Operating income and 3.) Netlixcome After taxes to answer these three (3) questions, Question: Based on the Multi-step Income Statement you pressed on your scratch paper what the amount of Gross Profit on the Multi-step come Statement for the period endine 12/31/xx? Adjusted Trial Balance December 31, 20% Accounts Debit Credit Cash $25.555 Accounts Receivable 50.000 Inventory 100.000 Prepaid Rent 4000 Coment 150.000 A Depreciation 550.000 Accounts Paya 25,000 Deferred Revenge 25.000 Current Portion or Debt 10000 longterm Delu 0.000 Mondo Povstvo 75.000 Common stoc 25700 Toy Stock 5000 Ows 5.000 Contoh Soin 5.000 Deration 2.000 Multi-Step Income Statement - three (3) questions Instructions: Please prepare a Multi-Step Income Statement on your scratch paper based on the following Partial Adjusted Trial Balance. Use this multi-step income statement to answer this question and the next two (2) questions. You will need to calculate 1.) Gross Profit. 2.) Operating Income, and 3.) Net Income After taxes to answer these three (3) questions. Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of Gross Proht on the Multi-step Income Statement for the period ending 12/31/xx? Adjusted Trial Balance December 31, 20xx Debit Accounts Credit Cash $25,555 50.000 100,000 4,000 150,000 Accounts Receivable Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Deferred Revenue Current Portion Long-term Debt Long-term Debt Bonds Payable Common Stock Treasury Stock Retained Earnings Dividends Revenue Cost of Goods Sold Salaries Expense Rent Expense Insurance Expense Depreciation Expense Interest Expense Income Tax Expense Totals $ 50,000 25,000 25.000 10.000 50,000 75,000 25,000 0 50.000 5,000 150,555 75.000 5.000 25,000 5,000 10.000 2.000 4.000 $460.555 5460.555

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