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 three (3) questions. You will need to know the amounts for net sales, gross profit, operating income, and net income after taxes. Adjusted Trial Balance As of 12/31/20xx Accounts Normal JAccount Balance $25,860 124.500 3.000 Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Deferred Revenue common Stock Retained Earnings Service Revenue 135 000 10.000 150.000 10.000 75.000 CLOU Inventory Deferred Revenue Common Stock Retained Earnings Service Revenue Sales Discounts Cost of Goods Sold Rent Expense Interest Expense Income Tax Expense 35,000 10,000 150,000 (10,000 175,000 1,181 50,186 5,164 14.000 3.000 Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Net" Sales on the Multi-step Income Statement for the period ending 12/31/xx? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period. decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24.123. you would only input: 24123 Multi-Step Income Statement Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Gross Profit" on the Multi-step Income Statement for the period ending 12/31/xx? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Multi-Step Income Statement Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of Operating Income" on the Multi-step Income Statement for the period ending 12/31/xx? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 Multi-Step Income Statement Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of "Net Income After-Taxes" on the Multi-step Income Statement for the period ending 12/31/xx? Fill in the blank with your calculated number. DO NOT include commas. S signs, period, decimal points, etc. just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input 24123
