Question 2 [35 points] XYZ Corporation began operations several years ago. XYZ Corporation's closing entries at August 31, 2014 are shown below. Use this information to prepare a classified multi-step income statement for the year ending August 31, 2014. F Page Gj1 Debit Credit 301,000 483,500 784,500 (select one) Income Statement (select one) 696.100 General Journal Date Account/Explanation 31/Aug Rent Earned Sales Income Summary Close temporary credit balance accounts 31/Aug Income Summary Advertising Expense. Cost Of Goods Sold Depreciation Expense, Office Fixtures Depreciation Expense, Store Furniture Income Taxes Expense. Insurance Expense Office Salaries Expense Office Supplies Expense Sales Discounts Sales Returns and Allowances Sales Salaries Expense Store Supplies Expense. Close temporary debit balance accounts 84.000 138.000 10,000 11,000 22.100 34,500 152,500 26,500 8.500 11.000 152.000 46.000 88.400 88.400 31/Aug Income Summary Retained Earnings. Close income summary 31/Aug Retained Earnings Dividends Close dividends 29.000 29.000