Prepare a set of financial statements using the attached adjusted trial balance. Larramores Food Mart is a company that sells merchandise and uses a perpetual inventory system. You are to prepare a multi-step income statement, a statement of retained earnings, and a balance sheet. Also, don't forget to list your new ending retained earnings on your balance sheet.

Larramores Food Mart

Adjusted Trial Balance

December 31, 2022

Balance

Account Title Debit Credit

Cash $7,600

Accounts Receivable 37,100

Merchandise Inventory 105,800

Office Supplies 1,300

Prepaid Rent 1,000

Furniture 66,500

Accumulated Depreciation $33,800

Land 26,000

Accounts Payable 7,300

Salaries Payable 2,000

Interest Payable 600

Unearned Revenue 2,400

Notes Payable, long term 108,000

Common Stock 48,000

Retained Earnings 22,200

Dividends 60,000

Sales Revenue 426,000

Interest Revenue 15,000

Cost of Goods Sold 254,000

Salaries Expense 84,700

Rent Expense 7,700

Utilities Expense 5,800

Depreciation Expense-Furniture 2,700

Supplies Expense 2,200

Interest Expense 2,900

Total $665,300 $665,300