Problem 5-8A Income statements-perpetual LO5 CHECK FIGURES: 1. Operating expenses $141,800; Profit$73,200 The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, Decem- ber 31, 2017 Credit 101 Cash 119 Merchandise inventory $ 8,000 16,200 128 Prepaid insurance 165 Store equipment 166 Accumulated depreciation, store equipment 167 Office equipment 168 Accumulated depreciation, office equipment 201 Accounts 301 Jonah Bell, capital 302 Jonah Bell, withdrawals 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 4,000 51,000 $ 46,800 34,200 16,000 41,000 291,800 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 classified multiple-step income statement that would be used by the business's owner (like Exhibit 5.13). 2. Prepare a multiple-step income statement that would be used by external users (like Exhibit 5.14). 3. Prepare a single-step income statement that would be provided to decision makers outside the company (like Exhibit 5.15). Analysis Component: If you were a decision maker external to Bell Servicing, which income statement format would you prefer and why, if you had a choice? Which income statement format(s) could you expect as an external user? Why