STANDARD VII Problem 5-6A The adjusted trial balance of Concord Wholesale Inc. contained the following accounts at December 31, the company's year end Credit $93,900 CONCORD WHOLESALE INC. Adjusted Trial Balance December 31, 2018 Debit Cash $12,400 Accounts receivable 18,600 Prepaid insurance 2,300 Inventory 104,900 Supplies 6,000 Land 129,400 Buildings 217,200 Accumulated depreciation-buildings Equipment 95,100 Accumulated depreciation-equipment Accounts payable Unearned revenue Income tax payable Bank loan payable Common shares Retained earnings Sales Sales returns and allowances 24,500 Sales discounts 15,600 Cost of goods sold 809.600 33,600 61,900 9,900 3,500 99,200 50,000 140,500 1,104,000 Cost of goods sold Administrative expenses Selling expenses Interest expense Interest revenue Income tax expense 809,600 88,400 46,100 12,100 2,500 16,800 $1,599,000 $1,599,000 Prepare a single-step income statement. CONCORD WHOLESALE INC. Income Statement (Single-step) Year Ended December 31, 2018 ST "S Prepare a multiple-step income statement. CONCORD WHOLESALE INC. Income Statement (Multiple-step) ( $