Prepare Taylor Department Store's multi-step income statement for the year ended December 31,2018.Assume ending Merchandise Inventory is $36,500.

Taylor Department Store uses a periodic inventory system. The adjusted trial balance of Taylor Department Store at December 31, 2018, follows Click the icon to view the adjusted trial balance) Read the requirements Requirement 1. Prepare Taylor Department Store's mut stop income statement for the year ended December 31, 2018 Assume ending Merchandise Inventory is $3,500 (US Begin by calculating the gross profit then complete the income statement in the next step Taylor Department Store Income Statement Year Ended December 31, 2010 Choose from any list or enter any number in the input fields and then click Check Answer 5 parts Jai balance Taylor Department Store Adjusted Trial Balance Income Statement Year Ended December 31, 2018 December 31, 2018 Balance Account Title Debit Credit $ 7,600 85.400 38,500 500 Cash Accounts Receivable Merchandise Inventory beginning) Office Supplies Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock 89.000 $ 18,200 28,700 2.400 14.400 31,000 20,000 umber in the input fields and then click Check Answer Print Done Data Table Accounts Payable Salaries Payable 28,700 2,400 Unearned Revenue 14,400 31,000 Notes Payable, long-term Common Stock Retained Earnings Dividends 20,000 54,200 89,500 Sales Revenue 395,000 Purchases 299,000 Purchase Returns and Allowances 111,000 6,500 200 Purchase Discounts Freight in Selling Expense Administrative Expense Interest Expense 41,800 26,900 3,000 Total $ 681,400 $ 681,400 Print Done