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The following is a list of the accounts and balances taken from the adjusted trial balance at December 31,2024, for Anderson Merchants. All accounts have

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The following is a list of the accounts and balances taken from the adjusted trial balance at December 31,2024, for Anderson Merchants. All accounts have normal balances. Anderson uses a periodic inventory system and the earnings approach to recognize revenue. Building S. Anderson, capital 84,600 S. Anderson, drawings 75,000 Cash 28,300 Depreciation expense 5,950 Equipment 6,100 Freight in 24,500 Delivery expense 3,400 Insurance expense 670 Interest expense 1.550 Interest revenue 2,220 Land 1,140 12,000 Merchandise inventory, beginning 90,200 Mortgage payable 57,600 Prepaid insurance Property tax expense 2,100 Property taxes payable 1.400 Purchase discounts 600 Purchasereturnsandallowances14,500 Purchases 269,100 Rent revenue 1,800 Salaries expense 40,200 Salaries payable 650 Sales 420,500 Sales discounts 15,500 Sales returns and allowances 17,800 Unearned revenue 23,000 Utilities expense 1,700 Additional information: According to the year-end physical count, the merchandise inventory had a balance of $104,100. Prepare a multiple-step income statement for Anderson Merchants for the year ended December 31, 2024. (List Other Revenue Other Expenses.) Lest *: Purchase Returns and Allowances Net Sales Cost of Goods Purchased Net Non-Operating Revenoes Purchase5 Purchase Discounts Add : Add : Interest Expense Advertising Expense

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