The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company NELSON COMPANY Unadjusted Trial Balance January 31, 2018 Credit Debit $ -1.45e 13,5ee 5,5ee 2,4ee 42,989 $ 18,500 12,600 3,880 15,880 2,880 Cash Merchandise inventory Store Supplies Prepaid insurance Store equipment Accumulated depreciation-store equipment Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense-Store equipment Salaries expense Insurance expense Rent expense Store supplies expense Advertising expense Totals 115,500 2,050 2,369 38,888 29, Bee 17,000 10, $164,880 $164, eee 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 $3.000. b. Expired Insurance, an administrative expense, for the fiscal year is $1.500. 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 $10,300 of Inventory is still available at fiscal year-end. Required: Using the above Information prepare adjusting Journal entries: - Prepare a multiple-step Income statement for fiscal year 2018 Prepare a single-step Income statement for fiscal year 2018. Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Using the above information prepare adjusting journal entries: View transaction lat Journal entry worksheet Store supplies still available at fiscal year-end amount to $3,000. Note: Enter debits before credits Transaction General Journal Debit Credit Journal entry worksheet Expired insurance, an administrative expense, for the fiscal year is $1,500. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal Journal entry worksheet NELSON COMPANY Income Statement For Year Ended January 31, 2018 Expenses Total expenses Required 2 Required 3