PLEASE BE SURE TO COMPLETE ALL REQUIREMENTS

P5-38A (similar to) i Requirenents al inventory svstem The records of Grade A Steak Company Ist the following selected accounts for the quarter ended April 30, 2018 1. Prepare single-slep income statement Read the peauirements 2. Prepare a mut-step income statement. tago of at least 50% Die Grade A achieve this oa? shnw your calculations Requirement 1. Prepare a single-step Income statement. (Abbrevlation used: Eq. - Equpment) Grade A Steak Company Income Statenment Print Done Quarter Ended April 30, 2018 Data Tatble 17.900 Intercst Rovenue S 800 Accounts Payable 3 300 Merchandise Inventory 46,300 Accounts Rocelvable Notos Payable, Iona-torm Accumulatod Depreciation-Equipment 53 000 35.800 Common Stock Salarics Pavabie 2 300 32,000 305,000 Retaincd Earnings Nct Salos Revenuc 21.930 Rent Expense (Scling) 21,000 21,800 Dvidends Salaries Expense (Administrative) 2,500 Cash 8,400 Cost ot Goods Sold omice Supplies 168,300 ,b00 ue Interest Exnense 2 20 t Payable 9. Deprecation Expense-Fqupment (Administrativey Rent Expense (Administrative) 1330 Saares Expense (Sellng) Utlimes Expense (Atdministralive) 3,900 5,500 1. 60 Delivery Expense (Selling) aties Expense (Seling) 3,900 Net Income (Loss)