Required (1) Prepare a multiple-step income statement and a classified balance sheet. Notes payable are due in 2024. (2) Journalize the adjusting entries that were made. Explanations/Narratives are NOT REQUIRED. (3) Jounalize the closing entries that are necessary. Explanations/Narratives are NOT REQUIRED

Big Box Store is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the company's fiscal year on November 31, 2021, the following accounts appeared in two of its trial balances. Required: (1) Prepare a multiple-step income statement and a classified balance sheet. Notes payable are due in 2024. (2) Joumalize the adjusting entries that were made. Explanations/Narratives are NOT REQUIRED. (3) Jounalize the closing entries that are necessary. Explanations/Narratives are NOT REQUIRED. Big Box Store is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the company's fiscal year on November 31, 2021, the following accounts appeared in two of its trial balances. Required: (1) Prepare a multiple-step income statement and a classified balance sheet. Notes payable are due in 2024. (2) Joumalize the adjusting entries that were made. Explanations/Narratives are NOT REQUIRED. (3) Jounalize the closing entries that are necessary. Explanations/Narratives are NOT REQUIRED