Question 3: Prepare the multiple-step income statement for the Tardis Co. by using following data at the end of Dec. 31, 2019 Accounts payable Accounts receivable Accumulated depreciation-building Accumulated depreciation-store equipment Advertising expense Building Cash Common stock Cost of goods sold Depreciation expense-building Depreciation expense-store equipment Dividends Gain on disposal of store equipment Interest expense Merchandise inventory, Dec 31, 2019 Office Salaries expense Office supplies Office supplies expense Rent expense-store Retained earnings Salarles payable Sales Sales discounts Sales returns and allowances Sales salaries expense Store equipment 28.500 27.000 121.600 25.000 12.300 260.000 19.500 50.000 2 24.000 16.000 42.500 3.000 1.000 38.000 18.000 1.200 3.500 2.500 119.900 10.000 450.000 8.000 24,500 20.000 80.000 December 31, 2018, merchandise inventory was $27,882. Supplementary records of merchandising activities for the year ended December 31, 2019, reveal the following itemized costs. Invoice cost of merchandise purchases Purchases discounts received Purchases returns and allowances Costs of transportation-in 230.908 3.760 8.230 1.200