The following is a list of the accounts and balances taken from the adjusted trial balance at December 31 2021 for Meilleur Merchants. Meilleur uses a perpetual inventory system and the earnings approach for revenue recognition. The list of accounts is in alphabetical order. All accounts have normal balances.

Prepare a multiple-step income statement for Meilleur Merchant for the year ended December 31, 2021.

Balance Dec. 31 Account 1 $15,000 2 30,000 3 Accounts payable Accounts receivable Accumulated depreciation-building Accumulated depreciation-equipment Advertising expense 15,500 4 10,000 5 4,600 6 Building 84,600 7 75,000 S. Meilleur, capital S. Meilleur, drawings 8 28,300 9 Cash 4,500 10 234,800 11 6,100 Cost of goods sold Depreciation expense Equipment Freight out 12 24,500 13 640 14 Insurance expense 1,450 15 Interest expense 2,120 16 Interest revenue 1,140 17 Land 12,000 18 105,000 19 57,600 20 Merchandise inventory Mortgage payable Prepaid insurance Property tax expense Property taxes payable 2,100 21 1,200 22 600 23 Rent revenue 1,900 24 41,600 Salaries expense Salaries payable 25 650 26 Sales 419,300 27 15,500 28 17,900 Sales discounts Sales returns and allowances Unearned revenue Utilities expense 29 23,000 30 1,900 MEILLEUR MERCHANTS Income Statement in > S