Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system.

Descriptions of items that require adjusting entries on January $31,2019,$ follow.

a$.$ Store supplies still available at fiscal year$-$end amount to $$1,750.$

b$.$ Expir$$d insurance, an administrative expense, for the fiscal year is $$1,400.$

c$.$ Depreciation expense on store equipment, a selling expense, is $$1,525$ for the fiscal year.

d$.$ To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $$10,900$ of inventory is still available at fiscal year$-$end.

$\backslash$table$[[$Requirement$,\backslash$table$[[$General$],[$Journal$]],\backslash$table$[[$General$],[$Ledger$]],$Trial Balance,$\backslash$table$[[$Multiple Step$],[$IS$]],$Single Step IS$,$Balance Sheet,Ratios$]]$

General Journal tab $-$ Prepare any necessary adjusting entries.

General Ledger tab $-$ One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab.

Trial Balance tab $-$ General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits.

Multiple step Income Statement tab $-$ Prepare a multiple step income statement.

Single$-$step Income Statement tab $-$ Prepare a single$-$step income statement using the values from the multiple$-$step income statement.

Balance Sheet tab $-$ Prepare a classified balance sheet.

Ratio tab $-$ Calculate the current ratio, the acid$-$test ratio, and the gross margin ratio.