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Use this information to prepare the company's multi-step income statement for the year ended December 31, 20 Patrick's Party Supplies Adjusted Trial Balance December 31,
Use this information to prepare the company's multi-step income statement for the year ended December 31, 20 Patrick's Party Supplies Adjusted Trial Balance December 31, 2020 Patrick's Party Supplies Income Statement Account Debit Credit For the Year Ended December 31, 2020 Cash $ 6,000 Accounts receivable Less: 21,000 27.000 40.000 $ 33,000 5.600 Inventory Furniture Accumulated amortization-furniture Accounts payable Interest payable Unearned sales revenue Note payable, long-term Patrick Gallant, capital Patrick Gallant, withdrawals 780 3,800 52,000 52,320 56,000 Sales revenue 246,000 Interest revenue 3,800 Net income Sales discounts 26,000 8,800 Sales returns and allowances 101.000 Cost of goods sold Operating expenses 108.000 3,500 Interest expense Total $ 397,300 $ 397,300
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