Prepare multi step Income statement, Balance Sheet and the closing journal entries.

4,500 The following is an alphabetical list of Blue Spruce's Bakery's adjusted account balances at the end of the company's fiscal year on November 30, 2021: Accounts payable $32,710 Merchandise inventory $34,360 Accounts receivable 13,670 Mortgage payable 106,000 Accumulated depreciation-building 61,200 Prepaid insurance Accumulated depreciation-equipment 19,880 Property tax expense 3,500 Building 175,000 Purchases 627.700 B. Hachey, capital 104,480 Purchase discounts 6,300 B. Hachey, drawings 12.000 Purchase returns and allowances 13,315 Cash 20,700 Rent revenue 3,400 Depreciation expense 14,900 Salaries expense 121.600 Equipment 57,000. Salaries payable 8.500 Freight in 5,110 Sales 872,000 Freight out 8,200 Sales discounts 8,300 Insurance expense 9,000 Sales retums and allowances 9,845 Interest expense 5,700 Unearned revenue 3,000 Land 79,000 Utilities expense 20.700 Additional information: 1. Blue Spruce's Bakery uses a periodic Inventory system 2. Of the mortgage payable, $9,200 is due on March 31, 2022 3. A physical count determined that merchandise inventory on hand at November 30, 2021 was 537.370. 4. The owner made no capital contributions during the vear