= = 2 Wrap Text General Calibri (Body) 11 A A BI Brava fx Merge & Center $ % T31 x The adjusted trial balance of McCoy Company included the Accounts Payable Accounts Receivables Accumulated Depreciation Advertising Expense Allowance foruncollectible Acts 10,000 10 000 395,500 Common Stock Cost of Goods Sold Depreciation Expense Freight Out Interest Expense Interest Revenue 19.000 130.000 BABYWHEERDENNESBRW Retnined Eamings Salaries and Wages Expense Sales Discounts Sales Retums and Allowance 84.000 9.500 45,000 U s Expense 23.000 Instructions 1. The accountant forgot to record the adjusting entry for bad debts for the year. The company estimates that 8% of the accounts receivable will be uncollectible Make the adjustment before you prepare the financial statements 2. Use the above information to prepare a multi-step income statement, a statement of stockholders equity and a classified balance sheet for the year ended December 31, 2019. Make sure that each financial statement has the proper heading. Show the following Items: net sales, gross proft, operating expenses, income from operations and net income There was no change in common stock during the year. 3. Calculate the gross proftrate and the proft margin Make sure the financial statements are in good form and legible. SHOW ALL WORK ON EVERYTHING AND HOW YOU GOT IT Sheet1 + Ready MacBook Pro