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On November 1, 2022, Marin Inc. had the foliowing account balances. The company uses the perpetual inventory method. During November, the following summary transactions were

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On November 1, 2022, Marin Inc. had the foliowing account balances. The company uses the perpetual inventory method. During November, the following summary transactions were completed. Nov: 8 Paid $3,621 for salaries due employees, of which $1,887 is for November and $1,734 is for October. 10 Received $1,938 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $8,200, terms 2/10, n/30. 12. Sold merchandise on account for $5,600, terms 2/10,n/30. The cost of the merchandise sold was $4,060. 15. Recelved credit from Dimas Discount Supply for merchandlse returned $300. 19. Received collections in full, less discounts, from customers billed on sales of $5,600 on November 12. 20 Paid Dimas Discount Supply in full, less decount. 22. Recelved $2.346 cash for services performed in November. 25 Purchased equipinent on account $5,100. 27 Purchased supplies on account $1.734. 28 Paid credlitors $3,060 of accounts payable due. 29. Paid November rent $383. 29. Psidsalaries $1.326. 29. Performedservices on account and bilied customers $714 tor those services. 29. Reseived $689 from customers for services to be performed in the future. Adjustinent datar 1. Supplies on hand are valued at $1,632 2. Accrued salaries payable are $510 3. Depreciationtor the monthis $255. 4. 3663 of services related to the une arned service revenue has not been pertormed by month-end Prepare an adjusted trial balance at November 30. Prepare a multiple-step income statement for November. MARIN INC. Income Statement For the Month Ended November 30,2022 * Sales Sales Revenue Les Sales Discounts Net Sales $ Gross Proft Operating Expenses \begin{tabular}{|l|} \hline \end{tabular} Total Operating Expenses Net income/ (toss) MARIN INC Balance Sheet November 30.2022 Assets Current Assets Total Current Assets Property. Plant and Equlpment Eovil Total Property, Plant and Equipenent Total Assets Liabilities and Stockholders' Equity Current Liabilities. Total Current Llabilities Stockholders' Equlty Total Stockholders Equity Totat Uabnities and Stockholderst Equity Journalize the closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent Date Account Titles and Explanation Nov. 30 (To close revenue accounts and other accounts with credit balances.) Nov. 30 (To close expense accounts and other accounts with debit balances.) Nov. 30 (To close income summary.)

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