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The balances of the accounts appearing in the ledger of Oceana Art Supply are listed below in the Adjusted Trial Balance for the year ending
The balances of the accounts appearing in the ledger of Oceana Art Supply are listed below in the Adjusted Trial Balance for the year ending December 31, 2022. Create a Multi-Step Income Statement in good form for the company for the year 2022. (20 Points.) Oceana Art Supply Adjusted Trial Balance 31-Dec-22 Cash Account Receivable Prepaid Insurance Merchandise Inventory Account Payable Taxes Payable Note Payable - Long Term Common Stock Retained Earnings Dividends Sales Revenue Interest Revenue Cost of Goods Sold Salary Expense (Admin) Debit $ $ $ $ $ $ SSSS LA GALA $ Depreciation Expense (Admin) $ Advertising Expense (Selling) $ Commission Expense (Selling) $ Interest Expense Income Tax Expense $ 15,000 1,500 1,200 25,000 $ Credit 5,000 $ $ SSS $ $ $ 50,000 12,000 2,000 1,500 25,000 450 9,000 $ 147,650 $ 147,650 $ 125,000 850 SAS 3,000 2,500 5,000 5,000 6,300 $
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