Part 1. The company Muebles de la Montaa has the following transactions in its ledger. Create a multiple-step income statement.

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	Telephone Expense	2,000
Supplies	4,500	Salaries Expense	29,000
Salaries Payable	3,000	Equipment	26,000

Part 2. Prepare a single-step income statement for a computer sales and equipment rental company.

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. Prepare a multiple-step income statement for an auto parts company.

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	Joe Doe, Drawings	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