Part 1. The company Muebles de la Montaa has the following transactions in its ledger. Make a multiple-step income statement - Correctly makee a multiple-step income statement, demonstrating a thorough understanding of the required procedure.

ACCOUNT BALANCE ACCOUNT BALANCE

Cash $ 75,000 Sales $ 1,650,000

Accumulated Depreciation-Truck 15,000 Account Receivable 50,000

Building 550,000 Note Payable 45,000

Truck 35,000 Joe Doe, Capital 500,000

Cost of Merchandise Sold 650,000 Joe Doe, Drawings 20,000

Advertising Expense 12,000 Administrative Expense 3,300

Utilities Expense 1,200 Tax 2,000

Salaries Expense 29,000

Salaries Payable 3,000 Equipment 26,000

Part 2. Make a single-step income statement for a computer sales and equipment rental company Make a single-step income statement ), demonstrating a thorough understanding of the required procedure.

ACCOUNT BALANCE

Sales $ 6,110,760

Interest Expense 1,550

Administrative Expense 10,500

Cost of Merchandise Sold 3,550,000

Advertising Expense 3,500

Rent Revenue 24,000

Merchandise Inventory 7,000,000

Utilities Expense 4,500

Part 3. Makee a multiple-step income statement for an auto parts sales company Make a multiple-step income statement showing a thorough understanding of the required procedure.

Accumulated Depreciation-Building $ 18,000 Account Receivable $ 52,000

Building 500,000 Note Payable 54,000

Sales 8,020,000 Joe Doe, Capital 800,000

Cost of Merchandise Sold 620,000 Interest Revenue 18,000

Merchandise Inventory 230,000 Administrative Expense 7,500

Utilities Expense 1,700 Telephone Expense 2,000

Supplies 4,800 Salaries Expense 15,000

Salaries Payable 9,000 Equipment 30,000