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Use the following adjusted trial balance and additional information to complete the requirements. KC ANTIQUES Adjusted Trial Balance December 31, 2011 Debit Credit Cash... $ 7.000 13,000 Accounts receivable 60,000 1,500 45,600 $ 16,600 Merchandise inventory Store supplies.. Equipment Accumulated depreciation-Equipment Accounts payable Salaries payable K. Carter, Capital K. Carter. Withdrawals 9.000 2.000 79.000 10,000 Sales 343.250 Sales discounts 5,000 Sales returns and allowances 6,000 159,900 4.100 1,600 30,000 34.000 Cost of goods sold Depreciation expenseStore equipment Depreciation expense-Office equipment Sales salaries expense Office salaries expense Insurance expense Rent expense (70% is store, 30% is office) Store supplies expense Advertising expense.... Totals 11.000 24.000 5,750 31.400 $449,850 $449,850 1. Prepare a 2011 multiple-step income statement. (Inventory at December 31, 2010, is $70,100.) 2. Prepare a single-step income statement for 2011 3. Prepare closing entries for KC Antiques at December 31, 2011