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please show the work, thank you Blossom Store is located in midtown Madison. During the past several years, net income has been declining because of
please show the work, thank you
Blossom Store is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the company's fiscal year on November 30, 2022, the following accounts appeared in two of its trial balances. Unadjusted Adjusted Unadjusted Adjusted $35.000 $35,000 Accounts Payable $25,800 $25,800 93.500 Notes payable Owner's Capital Owner's Drawings 93,500 30.800 Accounts Receivable 30.800 10,000 10,000 35,000 46,000 Accumulated Depr.-Equipment 10.700 2.600 27,000 27,000 Prepaid Insurance Cash 2.500 511,000 511.000 Cost of Goods Sold Property Tax Expense 2.500 6,000 6,000 Property Taxes Payable Freight-Out Equipment 15,000 15,000 145,500 145,500 Rent Expense 96,000 96,000 11.000 Salaries and Wages Expense Depreciation Expense 720,000 720,000 8.100 Sales Revenue Insurance Expense 6,500 11,000 6,200 6.200 Interest Expense Sales Commissions Expense Sales Commissions Payable 4.500 1.900 1.900 Interest Revenue 8.000 8.000 30.000 30,000 Sales Returns and Allowances Inventory 8,500 8.500 Utilities Expense - /25 III Prepare a multiple-step income statement. (List other revenues before other expenses. Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45) BLOSSOM STORE Income Statement For the Month Ended November 30, 2022 > > Other Expenses and tosses Interest Exem Net Income (o Step by Step Solution
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