The following account titles and balances were taken from the adjusted trial balance of King Co. for Year 2. The company uses the periodic inventory system.

Account Title	Balance
Sales returns and allowances	$ 3,500
Miscellaneous expense	900
Transportation-out	2,200
Sales	156,300
Advertising expense	6,200
Salaries expense	21,000
Transportation-in	3,800
Purchases	88,000
Interest expense	250
Merchandise inventory, January 1	11,200
Rent expense	12,000
Merchandise inventory, December 31	10,700
Purchase returns and allowances	2,100
Loss on sale of land	3,100
Utilities expense	1,850

Required

a. Prepare a schedule to determine the amount of cost of goods sold.

b. Prepare a multistep income statement.

c. Prepare a single-step income statement.