The following is a list of the accounts and balances taken from the adjusted trial balance at December 31, 2021 for Meilleur Merchants. The list of accounts is in alphabetical order. All accounts have normal balances. Meilleur uses a periodic inventory system and the earnings approach to recognize revenue, 1 2 3 4 5 6 7 8 Account Accounts payable Accounts receivable Accumulated depreciation-building Accumulated depreciation equipment Advertising expense Building 5 Meilleur capital 5. Meilleur, drawings Cash Depreciation expense Equipment Freight in Freight out Insurance endense Balance Dec. 31 $15,000 30,000 15,500 10,000 4,300 84,600 75,000 28.300 10,890 6,200 24.500 3.500 630 1450 10 11 12 13 14 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Equipment Freight in Freight out Insurance expense Interest expense Interest revenue Land Merchandise inventory, beginning Mortgage payable Prepaid insurance Property tax expense Property taxes payable Purchase discounts Purchase returns and allowances Purchases Rent revenge Salaries experts Sataries payable Sales Sales discounts Sales returns and allowances Unearned revenue Utilities expense 24,500 3.500 630 1.450 2,020 1,040 12,000 90.200 57.600 2,100 1.300 800 6.300 15.000 267.900 1.500 41.900 650 425,800 15,500 17,600 23,000 2,100 31 32 33 Sales returns and allowances Unearned revenue Utilities expense 17,600 23,000 2.100 Additional information: According to the year-end physical count, the merchandise inventory had a balance of $104,800 Prepare a multiple-step income statement for Meilleur Merchants for the year ended December 31, 2021 MEILLEUR MERCHANTS Income Statement For the Year Ended December 31, 2021