Unad justed Trial Balance January 31, 2017 Cash Nerchandise inventory $ 39,450 15,000 5,100 2,300 42,700 Store supplies Prepaid insurance Store equipment Accumulated depreciation-store equipment 18,750 12,000 ,400 17,000 Accounts payable Common stock Dividends Sales Sales discounts sales returns and allowances Coat of goods sold Depreciation expense-store equipnent salaries expense Insurance expense Rent expense Store supplies expense Advertising expense 2,050 149,550 2,000 2,200 38,000 28,200 14,000 9.700 Totals $200, 700$200,700 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 $2.400 b. Expired insurance, an administrative expense, for the fiscal year is $1650. 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 $10,900 of inventory is still available at fiscal year-end Required: , Using the above information prepare adjusting journal entries 2. Prepare a multiple-step income statement for fiscal year 2017 3. Prepare a single-step income statement for ficcal year 2017 Complete this questions by entering your answers in the below tabs s 6 of 6ENext>