The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2023: Account 101 119 Cash Merchandise inventory 125 Supplies Debit $ 7,900 Credit 16,100 9,900 128 Prepaid insurance 3,900 165 Store equipment 50,900 166 Accumulated depreciation, store equipment $ 46,700 167 Office equipment 68,900 168 Accumulated depreciation, office equipment 34,100 201 Accounts payable 15,900 301 Jonah Bell, capital 28,440 302 Jonah Bell, withdrawals 40,900 413 Sales 290,800 415 Sales discounts 1,900 505 Cost of goods sold 74,700 612 Depreciation expense, store equipment 5,100 613 Depreciation expense, office equipment 3,700 622 Sales salaries expense 45,900 623 Office salaries expense 31,900 637 Insurance expense, store 1,900 638 Insurance expense, office 1,550 640 Rent expense, office space 12,900 641 651. 652 Rent expense, selling space Office supplies expense Store supplies expense 655 Advertising expense Totals 16,900 1,190 2,300 17,500 $415,940 $415,940 Required: 1. Prepare a classified multiple-step income statement that would be used by the business's owner. Required: 1. Prepare a classified multiple-step income statement that would be used by the business's owner. Operating expenses: Selling Expenses: BELL SERVICING Income Statement For Year Ended December 31, 2023 Total selling expenses General and administrative expenses: $ 0 Operating expenses: Selling Expenses: Total selling expenses General and administrative expenses: $ 0 Total general and administrative expenses $ 0 Total operating expenses 0 2. Prepare a multiple-step income statement that would be used by external users. BELL SERVICING Income Statement For Year Ended December 31, 2023 Operating expenses: Total operating expenses 0 3. Prepare a single-step income statement that would be provided to decision makers outside the company. BELL SERVICING Income Statement For Year Ended December 31, 2023 Revenues: Expenses: Total expenses 0 Analysis Component: If you were a decision maker external to Bell Servicing, which income statement format would you prefer and why, if you had a choice? Format of income statement Analysis Component: If you were a decision maker external to Bell Servicing, which income statement format would you prefer and why, if you had a choice? Format of income statement Which income statement format(s) could you expect as an external user? Format of income statement