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Ch Exercise 13.3 (Algo) Preparing a classified income statement. LO 13-1 ces The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. Prepare a classified income statement for this firm for the year ended December 31, 20X1. The merchandise inventory amounted to 557775 on January 1, 20X1. and $50,725 on December 31, 20X1. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses Accounts 401 Sales 5243,600 C 451 Sales returns and allowances 4,150 De 491 Miscellaneous Income 200 Cr. 501 Purchases 101,600 Dr. 592 Freight in 1,275 Dr. 50) Purchases returns and allowances 3,400 CC 504 Purchases discounts 1.600 C 611 Salaries expense-Sales 43,300 De 614 Store supplies expense 2,110 Dr. 612 Depreciation expense-Store equipment 1,31 Or 631 Rent expense 11,500 Dr. 634 Utilities expense 2,800 Or 697 Salaries expense-Office 19.100 Or 540 Payroll taxes expense 4.000. Dr 643 Depreciation expense-office equipment 370 De 546 Uncollectible accounts expense 520 Dr. 691 Interest expense 340 Or Prey 1 of 6 Next > BRIDGET'S OFFICE SUPPLIES Income Statement Operating revenue Nel sales Cost of goods sold Total merchandise available for sale Operating expenses Selling expenses Prey 1 of 6 HE Next > Selling expenses Total selling expense General and administrative expenses ook int Print frences Total general and admin expenses Total operating expenses Other Income Other expense Prey 1 of 6 Next >