The Able Company is a merchandising enterprise that uses the perpetual inventory system

The Able Company is a merchandising enterprise that uses the perpetual inventory system. Account balances for the company as of March 31, 2017, the last day of the fiscal year, are as follows: Cash $28000 Accounts Receivable 132500 Merchandise Inventory 195000 Prepaid Insurance 9700 Store Supplies 4250 Office Supplies 2100 Store Equipment 157000 ACCUMULATED DEPRECIATIONStore Equipment 40300 Office Equipment 50000 ACCUMULATED DEPRECIATIONOffice Equipment 17200 Accounts Payable 66700 Salaries Payable 0 Unearned Rent 1200 NOTES PAYABLE: Due within 12 months 20000 Due beyond 12 months 85000 Andy Able, Capital 224600 Andy Able, drawing 30000 Sales 915000 Sales, returns and allowances 11900 Sales discounts 7100 Cost of merchandise sold 576200 Sales salaries expense 76400 Advertising expense 25000 DEPRECIATION EXPENSE-STORE Equipment 0 Store supplies expense 0 Miscellaneous Selling Expense 1600 Office Salaries Expense 34000 Rent Expense 16000 Insurance Expense 0 DEPRECAITION EXPENSE-OFFICE Equipment 0 Office Supplies Expense 0 Miscellaneous Admin Expense 1650 Rent Income 0 Interest Expense 11600 DATA needed for year-end adjustments follow: Merchandise inventory on hand March 31 189000 Insurance expired during the year 5000 Supplies on hand March 31 Store supplies 1300 Office supplies 750 Depreciation for the year: Store Equipment 4500 Office Equipment 2800 Salaries payable as of March 31: Sales Salaries 3850 Office Salaries 1150 Unearned Rent as of March 31 400 INSTRUCTIONS: A. Prepare a work sheet for the year ended March 31,2017 B. Prepare a multiple step income statement for the year ended March 31,2017 C. Prepare a statement of owner's equity for the year ended March 31,2017, assuming no additional investments by owner during the year D. Prepare a report form of balance sheet as of March 31, 2017, assuming that the current portion of notes payable is $20000 E. Journalize adjusting entries F. Journalize closing entries G. Prepare a post-closing trial balance as of March 31, 2017