The following account titles and balances were taken from the adjusted trial balance of King Company for Year 2. The company uses the periodic inventory system.

Account TitleBalanceSales returns and allowances$8,200Miscellaneous expense$820Transportation out$10,900Sales$322,000Advertising expense$11,400Salaries expense$54,000Transportation in$6,300Purchases$152,000Interest Expense$5,200Merchandise inventory, January 1$18,200Rent expense$18,500Merchandise inventory, December 31$20,300Purchase returns and allowances$2,800Loss on sale of land$4,200Utilities expense$10,600

Required:

a. Prepare a schedule to determine the amount of cost of goods sold

b. Prepare a multi-step income statement

c. Prepare a single-step income statement