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Question 3 - 20 Marks The following amounts appeared on Bliss Om Yoga's adjusted trial balance as of October 31, 2020, the year-end of its
Question 3 - 20 Marks The following amounts appeared on Bliss Om Yoga's adjusted trial balance as of October 31, 2020, the year-end of its fiscal year: Credit Debit $ 18,000 256,800 78,400 $203,280 65,000 1,120 424,000 97,000 Account Merchandise inventory Other assets Liabilities Brenda Davison, capital Brenda Davison, withdrawals Interest income Sales Revenue Online Class Sales Revenue - You Tube Views Sales returns and allowances- Online Classes Cost of goods sold- Instructor Salaries Sales salaries expenses Rent expense, selling space Store supplies expenses Advertising expenses Office salaries expenses Rent expense, office space Office supplies expenses Total 28,000 271,000 52,000 19,000 5,000 29,400 53,000 5,200 1,400 803,800 803,800 Required: Prepare a classified multi-step income statement for internal use that lists the company's net sales, cost of goods sold and gross profit, as well as the components and amounts of selling expenses and general and administrative expenses
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