Question 14 Not checked Marked out of 80.00 PF question Take me to the text Glent Company prepared the following adjusted trial balance at its year-end of October 31, 2019. The company is owned by Bruce Glent. Glent Company Trial Balance October 31, 2019 Account Titles DR CR Cash $14,400 Accounts Receivable $6,000 Merchandise Inventory $6,400 Prepaid Expenses $2,000 Store Equipment $39,800 Accumulated Depreciation Equipment $2,800 Accounts Payable $6,900 Unearned Revenue $5,700 Bank Loan $9,000 Glent, Capital $40,920 Glent, Withdrawals $1,400 Sales Revenue $54,780 Gain on Sale of Equipment $4,100 Cost of Goods Sold $19,300 Advertising Expense $2,000 Depreciation Expense-Equipment $2,800 interest Expense $600 Office Salaries Expense $4,900 Rent Expense-Retail Space $10,600 Rent Expense-Office Space $5,800 Sales Salories Expense $8,200 Total $124,200 $124,200 Notes: Assume the balance of owner's equity is the opening balance. The bank loan is payable over 9 years in equal annual installments. Required a) Prepare a multi-step income statement. Do not enter dollar signs or commas in the input bones Enter the accounts into the appropriate statements in the order they are presented on the trial balance. Do not use negative sins Required a) Prepare a multi-step income statement. Do not enter dollar signs or commas in the input bones Enter the accounts into the appropriate statements in the order they are presented on the trial balance Do not use negative sans Glent Company Income Statement For the Year Ended October 31, 2019 Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Total Selling Expenses Administrative Expenses $ Total Administrative Expenses Total Operating Expenses Income from Operations Other Income and Expenses Net Income b) Prepare a statement of owner's equity. Glent Company Statement of Owner's Equity For the Year Ended October 31, 2019 Glent, Capital (Beginning Add: Net Income Less: Glent, Withdrawals Subtotal Glent, Capital, October 31, 2019 c) Prepare a classified balance sheet Glent Company Balance Sheet As at October 31, 2019 Assets Current Assets Total Current Assets Property, Plant, and Equipment $ Total Property, Plant, and Equipment Total Assets Liabilities Current Liabilities Total Current Liabilities Long-Term Liabilities Total Long-Term Liabilities Total Liabilities Owner's Equity Total Owner's Equity Total Liabilities and Owner's Equity Check