P5-3A Big Box Store is located in midtown Madison. During the past several years, net pany's fiscal year on November 30, 2017, the following accounts appeared in two of its trial Unadjusted Adjusted income has been declining because of suburban shopping centers. At the end of the com balances Unadjusted Adjusted $ 37,000 101,700 10,000 10,500 s 25.200 25,200 Notes Payable 37,000 101.700 10,000 3,500 2,500 2,500 15,000 96,000 720,000 11,000 4,500 8,000 8,500 30.500 30,500 Owner's Capital 34,000 26,000 45,000 Owner's Drawings 26,000 Prepaid Insurance ip 518,000 518,000 Property Tax Expense Property Taxes Payable 6,500 146,000 146,000 Rent Expense 11,000 7,000 6,400 2,000 32,000 6,500 15,000 Salaries and Wages Expense96,000 Sales Revenue Sales Commissions Expense Sales Commissions Payable Sales Returns and Allowances Utilities Expense 720,000 6,500 6,400 2,000 32,000 8,000 8,500 Instructions (a) Prepare a multiple-step income statement, an owner's equity statement, and a classi- fied balance sheet, Notes payable are due in 2020 (b) Journalize the adjusting entries that were made. (c) Journalize the closing entries that are necessary P5-3A Big Box Store is located in midtown Madison. During the past several years, net pany's fiscal year on November 30, 2017, the following accounts appeared in two of its trial Unadjusted Adjusted income has been declining because of suburban shopping centers. At the end of the com balances Unadjusted Adjusted $ 37,000 101,700 10,000 10,500 s 25.200 25,200 Notes Payable 37,000 101.700 10,000 3,500 2,500 2,500 15,000 96,000 720,000 11,000 4,500 8,000 8,500 30.500 30,500 Owner's Capital 34,000 26,000 45,000 Owner's Drawings 26,000 Prepaid Insurance ip 518,000 518,000 Property Tax Expense Property Taxes Payable 6,500 146,000 146,000 Rent Expense 11,000 7,000 6,400 2,000 32,000 6,500 15,000 Salaries and Wages Expense96,000 Sales Revenue Sales Commissions Expense Sales Commissions Payable Sales Returns and Allowances Utilities Expense 720,000 6,500 6,400 2,000 32,000 8,000 8,500 Instructions (a) Prepare a multiple-step income statement, an owner's equity statement, and a classi- fied balance sheet, Notes payable are due in 2020 (b) Journalize the adjusting entries that were made. (c) Journalize the closing entries that are necessary