The following account titles and balances were taken from the adjusted trial balance of King Co. for 2018. The company uses the periodic inventory system. Account Title Sales returns and allowances Miscellaneous expense Transportation-out Sales Advertising expense Salaries expense Transportation-in Purchases Interest expense Merchandise inventory, January 1 Rent expense Merchandise inventory, December 31 Purchase returns and allowances Loss on sale of land Utilities expense Balance $ 3,200 800 2,200 152,000 6,200 21,300 2,800 82,000 300 11,400 8,200 10,400 2,200 3,200 1,600 Required: a. Prepare a schedule to determine the amount of cost of goods sold. b. Prepare a multistep income statement c. Prepare a single-step income statement Required A Required B Required C Prepare a schedule to determine the amount of cost of goods sold. (Amounts to be deducted should be indicated with minus sign.) KING CO. Schedule of Cost of Goods Sold For the Year Ended December 31, 2018 Cost of goods available for sale Cost of goods sold Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare a multistep income statement. KING CO. Income Statement For the Year Ended December 31, 2018 Sales Net sales Operating expenses Total operating expense Non-operating items Required A Required C > Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare a single-step income statement. KING CO. Income Statement For the Year Ended December 31, 2018 Sales Net sales Operating expenses / LU / Total expenses Non-operating items