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Part 1: Multistep Income Statement Jordan Air had the following account balances on December 31, 2020. First, identify which section of the income statement each amount belongs by checking the appropriate box (the first line is completed for you as an example). Then use this information to prepare a multistepincome statement for Jordan Air, All gray highlighted boxes within the income statement need to be completed. Account Amount Calculation of Operating Other Calculation of net gross profit expenses income/expenses income (bottom (Nonoperating of income items) statement) Advertising expense 3,500 Cost of goods sold 74,300 Gain on sale of 3,800 building Income tax expense 26,880 Interest expense 2,500 Revenue 372,000 Salaries expense 25,000 Supplies expense 2,600 Utilities expense 4,500 Jordan Air Income Statement For the year ended December 31, 2020 Gross profit Operating expenses: Total operating expenses Operating income Other income/expense (nonoperating items): Income before taxes Net income Part 2: FIFO, LIFO and Weighted Average Inventory Costing Methods At the end of the annual accounting period, December 31, the accounting records for Scout Company's most popular item in inventory showed the following: Transactions Units Unit Cost Beginning inventory, January 1 350 $30.00 Transactions during the current period: a. Purchase, March 10 640 $37.25 b. Purchase, July 29 255 $43.00 C. Sale ($50 each) (490) d. Sale ($50 each) (585) 1. Using a FIFO inventory system, calculate the following: a. Cost of goods sold for the year ended December 31 b. Ending inventory on December 31 2. Using a LIFO inventory system, calculate the following: a. Cost of goods sold for the year ended December 31 b. Ending Inventory on December 31 3. Using a weighted average inventory system, calculate the following: a. Cost of goods sold for the year ended December 31 b. Ending inventory on December 31