Tighe Department Store uses a periodic inventory system. The adjusted trial balance of Tighe Department Store at December 31, 2018, follows: (Click the icon to view the adjusted trial balance.) Read the requirements Tighe Department Store Income Statement Year Ended December 31, 2018 Loss Tighe Department Store uses a periodic inventory system. The adjusted trial balance of Tighe Department Store at December 31, 2018, follows: (Click the icon to view the adjusted trial balance.) Read the requirements Year Ended December 31, 2011 Loss Plus Less: Gross Profit Tighe Department Store Adjusted Trial Balance December 31, 2018 Balance Credit Account Title Cash Debit 8,400 85,000 Accounts Receivable Merchandise Inventory (beginning) 37,400 500 81,000 Office Supplies Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term 18,400 28,500 2,400 14,700 39,000 20,000 2,400 14,700 ACCOUNT rayavic Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends 39,000 40,000 3,100 89,500 Sales Revenue 395,000 Purchases 293,000 Purchase Returns and Allowances 119,000 6,200 Purchase Discounts Freight In Selling Expense Administrative Expense 600 41,600 26,000 3,300 Interest Expense 666,300 $ 666,300 10 of 11 (6 complete) HW Sco X Data Table 1618 Inding Deg arer rofit Tighe Department Store Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 8,400 Accounts Receivable 85,000 Merchandise Inventory (beginning) 37,400 Office Supplies 500 Furniture 81,000 Accumulated Depreciation - Furniture 18,400 Accounts Payable 28,500 Salaries Payable 2,400 Unearned Revenue 14.700 Notes Payable, long-term 39,000 inter any Print Done Che apter 5 10 of 11 (6 complete) HW Score: 24 Data Table 018, follows: Dep arer nding Merchar 28,500 2,400 14,700 39,000 40,000 3,100 -ofit 89,500 Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Purchases Purchase Returns and Allowances Purchase Discounts Freight in Selling Expense Administrative Expense Interest Expense 395,000 293,000 119,000 6,200 600 41,600 26,000 3,300 666,300 $ 666,300 nter any Print [ Done Check Answer 1. Prepare Tighe Department Store's multi-step income statement for the year ended December 31, 2018. Assume ending Merchandise Inventory is $36,800. 2. Journalize Tighe Department Store's closing entries