Problem S-3A (Part Level Submission) Big Box Store Is located in midtown Madison. During the past several November 30, 2017, the following accounts appeared in two of its trial balances. net income has been declining because of suburban shopping ters. At the end of thcompany's f scal year on Adjusted Accounts Payable Accounts Receivable Accumulated Depr.-Equipment Cash Cost of Goods Sold Freight-Out 25,700 25,700 Notes payable 35,000 $35,000 89,200 89,200 10,500 10,500 10,300 3,100 30,000 30,000 Owner's Capital 35,000 46,000 Owner's Drawings 25,000 25,000 Prepaid Insurance 09,000 509,00 Property Tax Expense 6,000 6,000 Property Taxes Payable 46,500 146,500 Rent Expense 2,500 15,000 15,000 6,000 96,000 720,000 720,000 6,50011,000 ,500 8,000 8,000 8,500 8,500 Depreciation Expense Insurance Expense Interest Expense Interest Revenue Inventory 11,000 Salaries and Wages Expense 7,200 Sales Revenue 6,1006,100 Sales Commissions Expense 2,000 2,000 Sales Commissions Payable 29,500 29,500 Sales Returns and Allowances Ubilities Expense Prepare a multiple-step income statement. (List other revenues before other expenses.) BIG BOX STORE Income Statement For the Year Ended November Sales Revenues Sales Revenue , Sales Returns and Allowances Less Net Sales Cost of Goods Sold Gross Profit/ (Loss) Operating Expenses Freight-Out Depreciation Expense Insurance Expense Rent Expense Insurance Expense Rent Expense Salaries and Wages Expense Sales Commissions Expense Utilities Expense Property Tax Expense Total Operating Expenses Operating Expenses Other Expenses and Losses Insurance Expense Rent Expense Salaries and Wages Expense Sales Commissions Expense Utilities Expense Property Tax Expense Total Operating Expenses Operating Expenses Other Expenses and Losses