Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

ORIOLE COMPANY Income Statement choose the accounting period

select an income statement item $enter a dollar amount select between addition and deduction : select an income statement item enter a dollar amount select a closing name for section one enter a total amount for section one select an income statement item enter a dollar amount select a summarizing line for the first part enter a total amount for the first part select an opening name for section two select an income statement item $enter a dollar amount select an income statement item enter a dollar amount select an income statement item enter a dollar amount select an income statement item enter a dollar amount select an income statement item enter a dollar amount select a closing name for section two enter a total amount for section two select a summarizing line for the second part enter a total amount for the second part select an opening name for section three select an income statement item enter a dollar amount select a closing name for this statement $enter a total profit or loss amount

Prepare a statement of owners equity.

ORIOLE COMPANY Statement of Owners Equity choose the accounting period select an opening name $enter a dollar amount select between addition and deduction : select an item $enter a dollar amount select an item enter a dollar amount enter a subtotal of the two previous amounts enter a total amount for the first part select between addition and deduction : select an item enter a dollar amount select a closing name $enter a total amount

Prepare a classified balance sheet. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Equipment and Furniture.)

ORIOLE COMPANY Balance Sheet choose the accounting period Assets select an opening name for subsection one select a balance sheet item $enter a dollar amount select a balance sheet item enter a dollar amount select a balance sheet item enter a dollar amount select a balance sheet item enter a dollar amount select a closing name for subsection one enter a total amount for subsection one select an opening name for subsection two select a balance sheet item $enter a dollar amount select between addition and deduction : select a balance sheet item enter a dollar amount $enter a subtotal of the two previous amounts select a balance sheet item enter a dollar amount select between addition and deduction : select a balance sheet item enter a dollar amount enter a subtotal of the two previous amounts select a closing name for subsection two enter a total amount for subsection two select a closing section name for this part of the balance sheet $enter a total amount for this part of the balance sheet Liabilities and Owner's Equity select an opening name for subsection one select a balance sheet item $enter a dollar amount select a balance sheet item enter a dollar amount select a balance sheet item enter a dollar amount select a balance sheet item enter a dollar amount select a balance sheet item enter a dollar amount select a closing name for subsection one enter a total amount for subsection one of the second part of the balance sheet select an opening name for subsection two select a balance sheet item enter a dollar amount select a closing name for section one enter a total amount for this section of the balance sheet select an opening name for section two select a balance sheet item enter a dollar amount select a closing name for this part of the balance sheet $enter a total amount for this part of the balance sheet

Calculate the gross profit margin and profit margin. (Round answers to 1 decimal place, e.g. 52.7%.)

Gross profit margin enter percentages rounded to 1 decimal place % Profit margin enter percentages rounded to 1 decimal place %

Accounts payable $15,580 Notes payable $42,000 Accumulated depreciationequipment 14,000 Prepaid insurance 575 Accumulated depreciationfurniture 17,500 R. Smistad, capital 65,750 Cash 33,500 R. Smistad, drawings 70,000 Cost of goods sold 271,600 Rent expense 24,700 Depreciation expense 7,000 Salaries expense 50,200 Equipment 35,000 Salaries payable 2,250 Furniture 42,000 Sales 474,000 Insurance expense 3,575 Sales returns and allowances 16,300 Interest expense 2,170 Supplies 950 Interest payable 565 Supplies expense 6,325 Merchandise inventory 70,350 Unearned revenue 2,600

Additional information:

1. Of the notes payable, $6,900 becomes due on February 17, 2022. The balance is due in 2023. 2. On July 18, 2021, R. Smistad invested $3,500 cash in the business.