The fiscal year-end of King Storelnc. is December

31. 2019. The company uses the perpetual

inventory system.

Required: look at the picture and please complete all these 3 steps. i will leave 2 upvotes using 2 accounts if u do everything propely

1. see the picture:In the "Adjusting Entries" columns of the trial balance, post adjustments for the following

2. On the "Fcl. Stmt." page, prepare a multi-step income statement and statement of changes in equity for

the year ended December 31, 2019, and a classified statement of financial position at December 31.

3.prepare closing entries, including brief descriptions. Account numbers are not necessary.

1 In the "Adjusting Entries" columns of the trial balance, post adjustments for the following: a. Sales on account that have not been recorded. Cost to Mr. G auto of sale (DR: Cost of goods sold and CR: Merchandise Inventory) $6,000 $4,800 $500 b. Cost of unused office supplies still on hand at year-end c. Unrecorded utility bill owing at December 31. $800 $4,600 d. Physical count of merchandise inventory on hand at December 31, 2019 This should be the balance (DR: Cost of goods sold and CR: Merchandise inventory to make this balance) On the "Fel. Stmt." page, prepare a multi-step income statement and statement of changes in equity for the year ended December 31, 2019, and a classified statement of financial position at December 31. Prepare closing entries, including brief descriptions. Account numbers are not necessary. Cash Accounts receivable Merchandise inventory Unused supplies Equipment Bank loan (% due in 2020) Accounts payable Income taxes payable Share capital Retained earnings Sales Sales returns and allowances Sales discounts Cost of goods sold Advertising expense Commissions expense Delivery expense Insurance expense Interest expense Office supplies expense Rent expense Telephone expense Utilities expense Income taxes expense Updated Trel Balance CH 700 50,000 10.000 O 6,000 9,000 490,000 6,000 5,000 8,000 5,000 9,000 9,000 8,000 8,000 9,000 6,000 $1,548,700 80,000 8,000 800 8,000 751,900 700,000 $1,548,700 Buff Dr 6 Rof Adjusted Trial Balonce OF