The following list of accounts is taken from the December 31, 2022 unadjusted trial balance of Perdu Sales, a business that is owned by Eldon Perdu. Debit Credit Cash $ 8,000 Merchandise inventory 9,800 Prepaid selling expense 8,000 Store equipment 40,000 Accumulated depreciation, store equipment $ 9,800 Accounts payable 14,840 Salaries payable 0 Eldon Perdu, capital 25,360 Eldon Perdu, withdrawals 3,600 Sales 858,000 Sales returns and allowances 33,000 Sales discounts 8,000 Cost of goods sold 431,000 Sales salaries expense 94,000 Utilities expense, store 12,600 Other selling expenses 70,000 Other administrative expenses 190,000

Additional information: Accrued sales salaries amount to $3,200. Prepaid selling expenses of $5,200 have expired. Depreciation for the period is $2,500. Required: Assuming a perpetual inventory system, complete the following:

a. Journalize the adjusting journal entries.

b. Prepare a classified multiple-step income statement for the year ended December 31, 2022 C . calculate the gross profit margin for the year ended dec 31 2022 . show your steps