Telly's Music Company uses a perpetual inventory system. The adjusted trial balance of Telly's Music Company at June 30, 2024, follows: E: (Click the icon to view the adjusted trial balance.) Read the requirements. Requirement 1. Prepare Telly's multi-step income statement for the year ended June 30, 2024. (Use a minus sign or parentheses to show other expenses.) Data Table Telly's Music Company Adjusted Trial Balance June 30, 2024 Balance Account Title Debit Credit Cash $ 3,900 Accounts Receivable 38,600 17.100 300 850 w 39,600 9,000 13,600 1.000 1.100 Merchandise Inventory Estimated Returns Inventory Office Supplies Furniture Accumulated Depreciation-Furniture Accounts Payable Refunds Payable Salaries Payable Uneamed Revenue Notes Payable, long-term Telly, Capital Telly, Withdrawals Sales Revenue Sales Discounts Forfeited Cost of Goods Sold Selling Expense Administrative Expense Interest Expense 6.500 15.500 24 650 41,500 190,000 400 85,500 18 600 14,000 1,800 261,750 S Total S 261.750 Print Done explanation on the last line of the journal entry table.) x i Requirements 1. Prepare Telly's multi-step income statementhr the year ended June 30, 2024. 2. Journalize Telly's closing entries. 3. Prepare a post-closing trial balance as of June 30, 2024. Print Done UTCOIT Requirement 1. Prepare Telly's multi-step income statement for the year ended June 30, 2024. (Use a minus sign or parenthes Telly's Music Company Income Statement Year Ended June 30, 2024 Net Income (Loss) Requirement 2. Journalize Telly's closing entries (Record debits first, then credits. Select the explanation on the last line of the je Requirement 2. Journalize Telly's closing entries (Record debits first, then credits Select the explanation on the last line of the journal entry table.) Start by closing revenues and other credit accounts for the period. Do not close the expenses, this will be done in the next step Date Accounts and Explanation Debit Credit Jun 30 Clos. (1) Close expenses for the period. Date Accounts and Explanation Debit Credit Jun 30 Clos (2) Close Income Summary Date Accounts and Explanation Debit Credit Jun 30 Clos (3) Choose from Read the requirements. Date Accounts and Explanation Debit Credit Jun 30 Clos (2) Close Income Summary Date Accounts and Explanation Debit Credit Jun 30 Clos. (3) Requirement 3. Prepare a post-closing trial balance as of June 30, 2024 Telly's Music Company Post-Closing Trial Balance June 30, 2024 Balance Account Title Debit Credit Total