P31, 2017: statement Advertising expense (LO 4), AP s 55,000 250,000 1,085,000 125,000 150,000 25,000 70,000 15,000 70,000 Interest revenue Inventory Rent revenue Retained earnings Salaries and wages expense Sales discounts Sales returns and Common stock $ 30,000 67,000 24,000 535,000 675,000 Cost of goods sold Depreciation expense Dividends Freight-out 8,500 Income tax expense Insurance expense allowances Sales revenue 41,000 2,400,000 Interest expense Instructions Prepare a multiple-step income statement. E5-12 The trial balance of Mendez Company at the end of its fiscal year, August 31, Pre 2017, includes these accounts: Beginning Inventory $18,700, Purchases $154,000, Sales see Revenue $190,000, Freight-In $8,000, Sales Returns and Allowances $3,000, Freight-Out $1,000, and Purchase Returns and Allowances $5,000. The ending inventory is $21,000. Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2017. Instructions 5-13 Below is a series of cost of goods sold sections for companies B, M, O, and s. 0 $250 $ 120 $700 $ Beginning inventory Purchases (g) 43,590 290 1,500 1,080 80 70,000 Sales revenue Instructions 2,400,000 Prepare a multiple-step income statement. E5-12 The trial balance of Mendez Company at the end of its fiscal year, August 31. Pre 2017, includes these accounts: Beginning Inventory $18,700, Purchases $154,000, Sales e Revenue $190,000, Freight-In $8,000, Sales Returns and Allowances $3,000, Freight-Out $1,000, and Purchase Returns and Allowances $5,000. The ending inventory is $21,000. Instructions Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2017. E5-13 Below is a series of cost of goods sold sections for companies B, M, 0, and s. 0 700 $ G) 120 1,500 1,080 $ 250 Beginning inventory Purchases Purchase returns and allowances Net purchases Freight-in Cost of goods purchased Cost of goods available for sale Ending inventory (g) 290 43,596 80 (a) 1,040 7,410 42,2 130 (b) 1,230 8,050 (h) 2, 49 1,800 1,350 1,150 310 (c) 1,230 7,600 A