The unadjusted trial balance of Splish Brothers Inc, a private company following ASPE.contained the following accounts at November 30, the company's fiscal year end: Splish Brothers Inc. Trial Balance November 30, 2020 Debit Credit Cash $ 25,700 Accounts receivable 72.160 Inventory 92.400 Supplies 7.570 Equipment 198.000 Accumulated depreciation-equipment $75.680 Vehicles 112.640 Accumulated depreciation-vehicles 34 320 Notes payable 74,800 Accounts payable 69,080 Common shares 264.000 uT UUUU Common shares 264,000 Retained earnings 33,450 Sales revenue 836.180 Sales returns and allowances 21,300 Cost of goods sold 538,120 Salaries and wages expense 132,000 Advertising expense 40,830 Utilities expense 21.120 Repairs and maintenance expense 28,250 Travel expense 41,100 Rent expense 56,320 $ 1,387,510 $1,387,510 Adjustment data: 1 Supplies on hand totalled $ 2,730. 2. Depreciation is $ 35.200 on the store equipment and $ 26,400 on the delivery trucks Adjustment data: 1. Supplies on hand totalled $ 2,730. 2. Depreciation is $ 35,200 on the store equipment and $ 26,400 on the delivery trucks. 3. Interest of $ 7,920 is accrued on notes payable at November 30. Additional information: 1. Salaries and wages expense is 80% selling and 20% administrative. 2. Rent expense and utilities expense are 80% selling and 20% administrative. 3. Of the notes payable. $ 30.800 is due for payment next year. 4. Repairs and maintenance expense is 100% administrative. 5. Expenses pertaining to travel, advertising and supplies are 100% selling. 6. The income tax rate for the company is 20%. No taxes have been accrued or paid during the year. Prepare a multiple-step income statement for the year November 30, 2020. (List selling expenses before administrative expenses, Enter negative amounts using either a negative sign preceding the number eg, -45 or parentheses e.g. (45).) SPLISH BROTHERS INC. Income Statement For the Quarter Ended November 30, 2020 For the Year Ended November 30, 2020 November 30, 2020 $ Prepare a multiple-step income statement for the year November 30, 2020. (List selling expenses before administrative expenses. Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) SPLISH BROTHERS INC. Income Statement V Add Less $ $ Administrative Expenses Dividends Expenses Gross Profit Income Before Income Taxes Income/(Loss) from Operations Net Income /(Loss) Net Sales Revenue Operating Expenses Other Revenues and Gains Other Expenses and Losses Retained Earnings / (Deficit), November 30, 2020 Retained Earnings / (Deficit). December 1, 2019 Sales Revenue Selling Expenses Total Administrative Expenses Total Expenses Total Revenues Total Selling Expenses Total Operating Expenses ~ $ $ Net Income /(Loss) Net Sales Revenue Operating Expenses Other Revenues and Gains Other Expenses and Losses Retained Earnings / (Deficit). November 30, 2020 Retained Earnings / (Deficit). December 1, 2019 Sales Revenue Selling Expenses Total Administrative Expenses Total Expenses Total Revenues Total Selling Expenses Total Operating Expenses Prepare a statement of retained earnings for the year November 30, 2020. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) SPLISH BROTHERS INC. Statement of Retained Earnings V $ v: $