Problem 5-4A (Part Level Submission)

Wolford Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the companys fiscal year on November 30, 2017, these accounts appeared in its adjusted trial balance.

Accounts Payable		$ 39,664
Accounts Receivable		25,456
Accumulated DepreciationEquipment		100,640
Cash		11,840
Common Stock		51,800
Cost of Goods Sold		909,164
Freight-Out		9,176
Equipment		232,360
Depreciation Expense		19,980
Dividends		17,760
Gain on Disposal of Plant Assets		2,960
Income Tax Expense		14,800
Insurance Expense		13,320
Interest Expense		7,400
Inventory		38,776
Notes Payable		64,380
Prepaid Insurance		8,880
Advertising Expense		49,580
Rent Expense		50,320
Retained Earnings		21,016
Salaries and Wages Expense		173,160
Sales Revenue		1,337,920
Salaries and Wages Payable		8,880
Sales Returns and Allowances		29,600
Utilities Expense		15,688

Additional data: Notes payable are due in 2021.

(a1)

Prepare a multiple-step income statement. (List other revenues before other expenses.)