Prepare a multiple-step income statement for the year ended December 31, 2022

Trial Balance - Dec 31, 2022 Cash Accounts receivable inventory land buildings accumulated dep - buildings equipment accumulated dep-equipment notes payable accounts payable common stock retained earnings dividends sales revenue sales discount cogs salaries and wages expense utilities expense maintenaince expense advertising expense insurance expense Debit Credit $ 30,400.00 $ 36,200.00 $ 68,500.00 $ 93,000.00 $ 200,900.00 $ 61,000.00 $ 84,500.00 $ 41,500.00 $ 55,700.00 $ 18,500.00 $ 160,900.00 $ 68,200.00 $ 11,000.00 $ 923,100.00 $ 7,000.00 $ 710,900.00 $ 52,300.00 $ 12,300.00 $ 9,900.00 $ 6,200.00 $ 5,800.00 $ 1,328,900.00 $1,328,900.00 Adjustment data: 1.Depreciation is $9,000 on buildings and $8,000 on equipment. (Both are operating expenses.) 2.Interest of $5,500 is due and unpaid on notes payable at December 31 3.Income tax due and unpaid at December 31 is $25,000. Other data: $16,000 of the notes payable are payable next year. No. Account Titles and Explanation Debit Credit 1. Depreciation Expense 17000 Accumulated Depreciation Equipment 8000 Accumulated Depreciation-Buildings 9000 2. Interest Expense 5500 Interest Payable 5500 3. Income Tax Expense 25000 Income Taxes Payable 25000 Create T-accounts for all accounts used in part a. Enter the trial balance amounts into the T-accounts an entries. (Post entries in the order of journal entries posted in part a.) Accumulated Depreciation-Buildings 12/31 Bal. 61,000 12/31 9,000 12/31 Bal. 70,000 Accumulated Depreciation Equipment 12/31 Bal. 41,500 12/31 8,000 12/31 Bal. 49,500 Depreciation Expense 12/31 17,000 12/31 Bal. 17,000 Interest Expense 12/31 5,500 12/31 Bal. 5,500 Ajusted Trial Balance - Dec 31, 2022 Debit Credit Cash $ 30,400.00 Accounts receivable $ 36,200.00 inventory $ 68,500.00 land $ 93,000.00 buildings $ 200,900.00 accumulated dep - buildings $ 70,000.00 equipment $ 84,500.00 accumulated dep-equipment $ 49,500.00 notes payable $ 55,700.00 accounts payable $ 18,500.00 Interest payable $ 5,500.00 income tax payable $ 25,000.00 common stock $ 160,900.00 retained earnings $ 68,200.00 dividends $ 11,000.00 sales revenue $ 923,100.00 sales discount $ 7,000.00 cogs $ 710,900.00 salaries and wages expense $ 52,300.00 utilities expense $ 12,300.00 maintenaince expense $ 9,900.00 advertising expense $ 6,200.00 insurance expense $ 5,800.00 depreciation expense $ 17,000.00 interest expense $ 5,500.00 income tax expense $ 25,000.00 $ 1,376,400.00 $ 1,376,400.00