Wolford Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the companys fiscal year on November 30, 2017, these accounts appeared in its adjusted trial balance.

Accounts Payable		$ 28,944
Accounts Receivable		18,576
Accumulated DepreciationEquipment		73,440
Cash		8,640
Common Stock		37,800
Cost of Goods Sold		663,444
Freight-Out		6,696
Equipment		169,560
Depreciation Expense		14,580
Dividends		12,960
Gain on Disposal of Plant Assets		2,160
Income Tax Expense		10,800
Insurance Expense		9,720
Interest Expense		5,400
Inventory		28,296
Notes Payable		46,980
Prepaid Insurance		6,480
Advertising Expense		36,180
Rent Expense		36,720
Retained Earnings		15,336
Salaries and Wages Expense		126,360
Sales Revenue		976,320
Salaries and Wages Payable		6,480
Sales Returns and Allowances		21,600
Utilities Expense		11,448

Additional data: Notes payable are due in 2021. 1. Prepare a multiple-step income statement, a retained earnings statement, and a classified balance sheet. 2. Use CELL REFERENCING for as many entries in your financial statements as you can 3.Calculate the profit margin and the gross profit rate using CELL REFERENCING