Prepare a multiple-step income statement and a retained earnings statement. P4-2 L03,4,6 trial bala EXCEL (Single-Step Statement, Retained Earnings Statement, Periodic Inventory) Presented below is the nce of Thompson Corporation at December 31, 2017. THOMPSON CORPORATION TRIAL BALANCE DECEMBER 31, 2017 Debit Credit $ 10,000 Purchase Discounts Cash Accounts Receivable Rent Revenue Retained Earnings Salaries and Wages Payable Sales Revenue Notes Receivable Accounts Payable Accumulated Depreciation-Equipment Sales Discounts Sales Returns and Allowances Notes Payable Selling Expenses Administrative Expenses Common Stock Income Tax Expense Cash Dividends Allowance for Doubtful Accounts Supplies Freight-In Land Equipment Bonds Payable Gain on Sale of Land Accumulated Depreciation--Buildings Inventory Buildings Purchases $ 189,700 105,000 18,000 160,000 18,000 1,100,000 110,000 49,000 28,000 14,500 17,500 70,000 232,000 99,000 300,000 53,900 45,000 5,000 14,000 20,000 70,000 140,000 100,000 30,000 19,600 89,000 98,000 610,000 $1,907,600 Totals $1,907,600 A physical count of inventory on December 31 resulted in an inventory amount of $64,000; thus, cost of goods sold for 2017 is