Question 6 [50 points] Velor Inc. showed the following adjusted trial balance at December 31, 2014 (Velor Inc.'s first year-end). The merchandise inventory has been calculated by the Weighted Average method. Use this information to complete the following: a) Calculate the merchandise inventory value at December 31, 2014: Merchandise inventory, December 31, 2013........ 153,200 Purchases ---... 130,300 Merchandise inventory, December 31, 2014 Cost of goods sold. ... 114,500 b) Prepare a multiple-step income statement for the year ended December 31, 2014: (select one) Income Statement (select one) Velor Inc. Trial Balance December 31, 2014 Debit Credit Accumulated depreciation, office equipment... 6,500 Accumulated depreciation, store furniture 8,500 Advertising payable 104,500 Bonds payable (due February 28, 2018) 360,500 Copyright 60,500 Cost of goods sold 114,500 Depreciation expense, office equipment....... 6,500 Depreciation expense, store furniture 8,500 Income taxes expense. 2,400 Income taxes payable. 2,400 Insurance expense 19,000 Investment in bonds....... 148,500 Long-term notes payable......... 327,500 Merchandise inventory ??? Notes receivable (due April 30, 2015) 96,500 Office equipment..... 32,000 Office salaries expense 110,000 Office supplies expense 93,000 Rent eamed Rent receivable 32,000 Rent expense, selling space 139,500 Sales 507,500 Sales discounts 6.000 Sales retums and allowances 6,500 Sales salaries expense. 40,000 Share capital.. 181,000 Store fumiture 499,000 Trademark 25,000 Uneamed revenue. 62,000 Totals 1,608,400 1,608,400 c) Prepare a classified balance sheet at December 31, 2014: (select one) Balance Sheet (select one) 48,000 x