The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2019 Debit Credit Cash $ 17,650 Merchandise inventory 15,000 Store supplies 5,500 Prepaid insurance 2,200 Store equipment 42,600 Accumulated depreciation-Store equipment $ 17,650 Accounts payable J. Nelson, Capital 16,000 17,000 J. Nelson, Withdrawals 2,050 Sales 130,650 Sales discounts 1,850 Sales returns and allowances 2,150 Cost of goods sold 38,000 Depreciation expense-Store equipment 0 Sales salaries expenses 13,400 Office salaries expenses 13,400 Insurance expense 0 Rent expense-Selling space 9,000 Rent expense-Office space 9,000 Store supplies expense Advertising expense Totals 0 9,500 $181,300 $181,300 Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual Inventory system. Additional Information: a. Store supplies still available at fiscal year-end amount to $2,450. b. Expired insurance, an administrative expense, for the fiscal year is $1,600. c. Depreciation expense on store equipment, a selling expense, is $1,500 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise Inventory is taken. It shows $10,200 of Inventory is still available at fiscal year-end. Required: Prepare and complete the entire 10-column work sheet for Nelson Company. Adjustments Unadjusted Trial Balance NELSON COMPANY Work Sheet For Year Ended January 31, 2019 Adjusted Trial Balance Income Statement Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Balance Sheet and Statement of Retained Earnings Cr. Cash $ 17,650 $ 17,650 Merchandise inventory 15,000 15,000 Store supplies 5,500 Prepaid insurance 2,200 Store equipment 42,600 2,450 1,600 1,500 Accum. depreciation-Store equipment 17,650 Accounts payable 16,000 J. Nelson, Capital 17,000 J. Nelson, Withdrawals 2,050 Sales 130,650 Sales discounts 1,850 Sales returns and allowances 2,150 Cost of goods sold 38,000 Depreciation expense-Store equipment 0 Sales salaries expenses 13,400 Office salaries expenses 13400 Insurance expense 0 Rent expense-Selling space 9,000 Rent expense-Office space 9,000 Store supplies expense Advertising expense Totals Net income Totals 0 9,500 $ 181,300 $181,300 $ 2,450 $ 3,100 $ 32,650 $ 0 0 0 0 0 $ 0 $ 0 $ 0 $ 0