• The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2023: Account Debit Credit 101 Cash $ 8,900 119 Merchandise inventory 17,100 125 Supplies 10,900 128 Prepaid insurance 4,900 165 Store equipment 51,900 166 Accumulated depreciation, store equipment $ 47,700 167 Office equipment 69,900 168 Accumulated depreciation, office equipment 35,100 201 Accounts payable 16,900 301 Jonah Bell, capital 34,040 302 Jonah Bell, withdrawals 41,900 413 Sales 300,800 415 Sales discounts 2,900 505 Cost of goods sold 75,700 612 Depreciation expense, store equipment 6,100 613 Depreciation expense, office equipment 4,700 622 Sales salaries expense 46,900 623 Office salaries expense 32,900 637 Insurance expense, store 2,900 638 Insurance expense, office 2,050 640 Rent expense, office space 13,900 641 Rent expense, selling space 17,900 651 Office supplies expense 1,290 652 Store supplies expense 3,300 655 Advertising expense 18,500 Totals $ 434,540 $ 434,540 Required: 1. Prepare a classified multiple-step income statement that would be used by the business’s owner. 2. Prepare a multiple-step income statement that would be used by external users. 3. Prepare a single-step income statement that would be provided to decision makers outside the company. 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? Which income statement format(s) could you expect as an external user? PrevQuestion 2 of 4 Total2 of 4Visit question mapNext