PLEASE HELP WITH ASSIGNMENT!

Comprehensive Problem 2 Part 1 and Part 2: Palisade Creek Co. is a retail business that uses the perpetual inventory system. The account balances for Palisade Creek as of May 1, 2016 (unless otherwise indicated), are as follows. Assume all accounts have normal balances. 110 Cash $83,600 312 Dividends $135,000 112 Accounts Receivable 233,900 410 Sales 5,069,000 115 Inventory 624,400 510 Cost of Goods Sold 2,823,000 116 Estimated Returns Inventory 28,000 520 Sales Salaries Expense 664,800 117 Prepaid Insurance 16,800 521 Advertising Expense 281,000 118 Store Supplies 11,400 522 Depreciation Expense 123 Store Equipment 569,500 523 Store Supplies Expense 124 Accumulated Depreciation-Store Equipment 56,700 529 Miscellaneous Selling Expense 12,600 210 Accounts Payable 96,600 530 Office Salaries Expense 382,100 211 Salaries Payable - 531 Rent Expense 83,700 212 Customers Refunds Payable 50,000 532 Insurance Expense 310 Common Stock 100,000 539 Miscellaneous Administrative Expense 7,800 311 Retained Earnings 585,300 539 Comprehensive Problem 2 Part 8: You must complete parts 1, 2, 3, 4, 6 and 7 before attempting to complete Note: part 5 is optional. 1. Prepare a multiple-step income statement. Palisade Creek Co. Income Statement For the Year Ended May 31, 2016 $$ Operating Expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses Net income 2. Prepare a statement of stockholders' equity. Assume that additional common stock of $10,000 was issued in January 2016 Palisade Creek Co. Statement of Stockholders' Equity For the Year Ended May 31, 2016 Common Stock Retained Earnings Total 3. Prepare a balance sheet. Palisade Creek Co. Balance Sheet May 31, 2016 Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Total liabilities Stockholders' Equity Stockholders' Equity Total stockholders' equity Total liabilities and Stockholders' Equity Comprehensive Problem 2 Part 8: You must complete parts 1, 2, 3, 4, 6 and 7 before attempting to complete part 8. Note: part 5 is optional