The following adjusted trial balance for bell servicing was prepared at the end of the fiscal year December 31, 2020

prepare a classified Multi stamp income statement that would be used by the business's owner

prepare a multi step income statement that would be used by external users

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 bill servicing which income statement format would you prefer and why if you had a choice

which income statement formats can you expect as an external user

The following adj Account 101 Cash 119 Merchandise inventory 125 Supplies 128 Prepaid insurance 165 Store equipment 166 Accumulated depreciation, store equipment 167 Office equipment 168 Accumulated depreciation, office equipment 201 Accounts payable 301 Jonah Bell, capital 302 Jonah Bell, withdrawals 413 Sales 415 Sales discounts 505 Cost of goods sold 612 Depreciation expense, store equipment 613 Depreciation expense, office equipment 622 Sales salaries expense 623 Office salaries expense 637 Insurance expense, store 638 Insurance expense, office 640 Rent expense, office space 641 Rent expense, selling space 651 Office Supplies expense 652 Store supplies expense 655 Advertising expense Totals Debit Credit $ 7,900 16,100 9,900 3,900 50,900 $ 46,700 68,900 34,100 15,900 28,440 40,900 299,800 1,900 74,700 5,100 3,700 45,900 31,900 1,900 1,550 12,900 16,900 1,190 2,300 17,500 $415,940 $415,940 BELL SERVICING Income Statement For Year Ended December 31, 2020 Operating expenses Selling Expenses: Total selling expenses General and administrative expenses: Total general and adm ative expenses s Total operating expenses BELL SERVICING Income Statement For Year Ended December 31, 2020 Operating expenses: Total operating expenses 0 BELL SERVICING Income Statement For Year Ended December 31, 2020 Revenues: Expenses: Total expenses 0 Format of income statement Format of income statement