P5-40B Preparing a multi-step income statement, journalizing closing entries and preparing a post-closing trial balance The adjusted trial balance of Daddy's Music Company at April 30, 2015, follows: Learning Objectives 4, 5 1. Operating Income $57,000 DADDY'S MUSIC COMPANY Adjusted Trial Balance April 30, 2015 Balance Account Title Cash Debit Credit $ 4,300 Accounts Receivable Merchandise Inventory 38,200 17,800 Office Supplies Furniture Accumulated Depreciation-Furniture Accounts Payable 600 39,400 $ 9,000 13,600 Salaries Payable 1,200 Unearned Revenue 6,600 Notes Payable, long-term 14,000 Otousan, Capital 40,100 Otousan, Withdrawals 40,000 Sales Revenue 180,000 Sales Returns and Allowances 6,500 Sales Discounts 1,500 Cost of Goods Sold 81,800 Selling Expense 19,200 Administrative Expense 14,000 Interest Expense 1,200 Total $264,500 $264,500 CHAPTER Requirements 1. Prepare Daddy's multi-step income statement for the year ended April 30, 2015. 2. Journalize Daddy's closing entries. 3. Prepare a post-closing trial balance as of April 30, 2015.