Problem 5-8A Income Statements - perpetual (20 marks The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2020: Debit Credit 101 119 125 128 165 $ 8,000 16,200 10,000 4,000 51,000 $ 46,800 69,000 166 167 168 201 Cash Merchandise inventory. Supplies.......... Prepaid insurance.... Store equipment Accumulated depreciation, store equipment.. Office equipment...... Accumulated depreciation, office equipment Accounts payable... Jonah Bell, capital Jonah Bell, withdrawals Sales Sales discounts... Cost of and cold 34,200 16,000 29,000 301 302 41,000 291,800 413 415 505 2,000 74 ROO Views Download T. 291.800 *** 413 Sales... 415 Sales discounts 505 Cost of goods sold 612 Depreciation expense, store equipment.. 613 Depreciation expense, office equipment. 622 Sales salaries expense.... 623 Office salaries expense. 637 Insurance expense, store 638 Insurance expense, office 640 Rent expense, office space. 641 Rent expense, selling space.... 651 Office supplies expense 652 Store supplies expense. 655 Advertising expense Totals .......... 2,000 74,800 5,200 3,800 46,000 32,000 2.000 1,600 13,000 17.000 1,200 2,400 17,600 $417.800 $417.800 Required 1. Prepare a multi-step income statement that would be used by external users (like 641 651 652 655 Rent expense, selling space. Office supplies expense Store supplies expense..... Advertising expense Totals ............ 17,000 1,200 2,400 17,600 $417,800 ***** $417.800 Required 1. Prepare a multi-step income statement that would be used by external users (like Exhibit 5.14). 2. Prepare a single-step income statement that would be provided to decision makers outside the company (like Exhibit 5-15)