P4-2 Single-step income statement Selected accounts and related amounts for Aqua Co. for the fiscal year ended June 30, 20Y8, are presented in Problem 4-1. Instructions 1. Prepare a single-step income statement in the format shown in Exhibit 3. 2. Prepare a retained earnings statement for the liscal year ended J Cash Accounts Receivable Merchandise Inventory Office Supplies Prepaid Insurance Office Equipment Accumulated Depreciation- $ 83,500 Sales $3,625,000 37,800 20,200 2,175,000 388,800 45,900 150,000 Sales Returns and Alowances Sales Discounts Cost of Merchandise Sold Sales Salaries Expense Advertising Expense Depreciation Expense-- 380,000 15,000 12,000 115,200 Office Equipment Store Equipment Accumulated Depreciation- 8,300 2,000 77,400 39,900 22,950 49,500 511,500 Store Equipment Miscellaneous Selling Expense Office Salaries Expense Rent Expense Insurance Expense Depreciation Expense- Store Equipment Accounts Payable Salaries Payable Note Payable 186,700 48,600 9,600 16,200 1,650 Office Equipment Office Supplies Expense Miscellaneous Administrative (final payment due in five years) Capital Stock Retained Earnings Dividends 54,000 15,000 253,800 125,000 1,900 12,000 Expense Interest Expense