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The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 3 1 , 2 0 2 3

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 $ 7,900
119 Merchandise inventory 16,100
125 Supplies 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 Rent expense, selling space 16,900
651 Office supplies expense 1,190
652 Store supplies expense 2,300
655 Advertising expense 17,500
Totals $ 415,940 $ 415,940
Required:
1. Prepare a classified multiple-step income statement that would be used by the businesss 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?

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