Rockin Rick MusicRockin Rick Music Company uses a perpetual inventory system. The adjusted trial balance of Rockin Rick MusicRockin Rick Music Company at June 30 comma 2016June 30, 2016, follows:

Requirements

1.Prepare Rockin Rick Music Comapny multi-step Income statement for the year ended June 30,2016.

2.Journalize Big Rick Music Company Closing entries.

3.Prepare a post closing trail balance as of June 30, 2016.

Rockin Rick Music Company
Adjusted Trial Balance
June 30, 2016
		Balance
	Account Title	Debit	Credit
	Cash	$4,400
	Accounts Receivable	38,400
	Merchandise Inventory	17,200
	Office Supplies	750
	Furniture	39,300
	Accumulated DepreciationFurniture		$9,900
	Accounts Payable		13,400
	Salaries Payable		1,250
	Unearned Revenue		7,200
	Notes Payable, long-term		16,000
	Common Stock		10,000
	Retained Earnings		27,350
	Dividends	42,600
	Sales Revenue		183,000
	Sales Returns and Allowances	2,600
	Sales Discounts	6,000
	Cost of Goods Sold	82,350
	Selling Expense	18,500
	Administrative Expense	13,000
	Interest Expense	2,000
	Total	$267,100	$267,100