The unadjusted trial balance of Flint Enterprises for the year ending December 31, Credit $35,000 FLINT ENTERPRISES Trial Balance December 31, 2021 Debit Cash $15,000 Accounts receivable 19,200 Merchandise inventory 37,050 Prepaid insurance 3,000 Supplies 2,950 Equipment 150,000 Accumulated depreciation-equipment Furniture 45,000 Accumulated depreciation--furniture Accounts payable Unearned revenue Mortgage payable S. Kim, capital S. Kim, drawings 48,000 Sales Sales returns and allowances 2,500 Sales discounts 3,275 Cost of goods sold 153,000 Interest expense 6,875 Salaries expense 35,450 Utilities expense 5,100 $526,400 18,000 33,200 4,000 125,000 46,200 265,000 $526,400 Additional information: 265,000 Sales Sales returns and allowances Sales discounts Cost of goods sold Interest expense Salaries expense Utilities expense 2,500 3,275 153,000 6,875 35,450 5,100 $526,400 $526,400 Additional information: 1. There is $830 of supplies on hand on December 31, 2021. 2. The one-year insurance policy was purchased on March 1, 2021. 3. Depreciation expense for the year is $10,500 for the equipment and $4,500 for the furniture. 4. Accrued interest expense at December 31, 2021, is $700. 5. Unearned revenue of $975 is still unearned at December 31, 2021. On the sales that were earned, cost of goods sold was $2.050. 6. A physical count of merchandise inventory indicates $31,850 on hand on December 31, 2021. 7. Global uses the perpetual inventory system and the earnings approach X Your answer is incorrect. Try again. Prepare a multiple-step income statement. (Enter Prepare a single-step income statement. Prepare the closing entries. {! Entry" for the account title FLINT ENTERPRISES Income Statement x dy 0.X x e here to search The unadjusted trial balance of Flint Enterprises for the year ending December 31, Credit $35,000 FLINT ENTERPRISES Trial Balance December 31, 2021 Debit Cash $15,000 Accounts receivable 19,200 Merchandise inventory 37,050 Prepaid insurance 3,000 Supplies 2,950 Equipment 150,000 Accumulated depreciation-equipment Furniture 45,000 Accumulated depreciation--furniture Accounts payable Unearned revenue Mortgage payable S. Kim, capital S. Kim, drawings 48,000 Sales Sales returns and allowances 2,500 Sales discounts 3,275 Cost of goods sold 153,000 Interest expense 6,875 Salaries expense 35,450 Utilities expense 5,100 $526,400 18,000 33,200 4,000 125,000 46,200 265,000 $526,400 Additional information: 265,000 Sales Sales returns and allowances Sales discounts Cost of goods sold Interest expense Salaries expense Utilities expense 2,500 3,275 153,000 6,875 35,450 5,100 $526,400 $526,400 Additional information: 1. There is $830 of supplies on hand on December 31, 2021. 2. The one-year insurance policy was purchased on March 1, 2021. 3. Depreciation expense for the year is $10,500 for the equipment and $4,500 for the furniture. 4. Accrued interest expense at December 31, 2021, is $700. 5. Unearned revenue of $975 is still unearned at December 31, 2021. On the sales that were earned, cost of goods sold was $2.050. 6. A physical count of merchandise inventory indicates $31,850 on hand on December 31, 2021. 7. Global uses the perpetual inventory system and the earnings approach X Your answer is incorrect. Try again. Prepare a multiple-step income statement. (Enter Prepare a single-step income statement. Prepare the closing entries. {! Entry" for the account title FLINT ENTERPRISES Income Statement x dy 0.X x e here to search