The trial balance of Miranda Company at December 31, 20XX, the end of the company's fiscal year is shown on the work sheet: Adjustment data: i. Depreciation is $10,000 on buildings and $9,000 on equipment 2. Interest of $5,000 is due and unpaid on notes payable at December 31. 3. Inventory on December 31 is $88,900. Instructions: 1. Complete the Worksheet. 2. Prepare a multiple-step income statement, and a statement of financial position at December 31, 20XX. 3. Journalize the closing entries. Account Title MIRANDA COMPANY Work Sheet For the year ended Dec 31, 20XX Trial Balance Adjustments Adj: Trial Income St of Balance Statement Financial Position Dr Cr Dr Cr Dr CrDr Cr Dr Cr $25,400 37,600 90,000 92.000 197,000 S54,000 83,500 42.400 50,000 37.900 200,000 Cash Accounts Receivable Inventory Land Building Accumulated Dep- Building Equipment Accumulated Dep- Equipment Notes Payable Accounts Payable Share Capital Ordinary Retained Earnings Dividends Sales Revenue Sales Returns & Allowances Sales Discount Cost of goods sold Freight-out Salaries Expense Utilities Expense Repair Expense Gas & oil Expense Insurance Expense Total 68,900 10,000 904,100 2.000 4.100 709,900 2.000 67,8001 19,400 5.900 7,200 3,500 $1,357,300 $1,357,300 2. Multiple-Step Income Statement Miranda Company Multiple-Step Income Statement For the year ended December 31, 20XX Statement of Financial Position Miranda Company Statement of Financial Position December 31, 20XX 3. Closing Entries