al (from Ch. 4) (10 points) Check my work mode: This shows what is correct or incorrect a. Issued 191.000 shares of $5-par-value common stock for $955.000 in cash b. Borrowed $540,000 from Oglesby National Bank and signed a 10% note due in three years C. Incurred and paid $410,000 in salaries for the year d. Purchased $690,000 of merchandise inventory on account during the year e. Sold Inventory costing $580,000 for a total of $920,000, all on credit t. Paid rent of $220,000 on the sales facilities during the first 11 months of the year g. Purchased $170,000 of store equipment, paying $55.000 in cash and agreeing to pay the difference with h. Paid the entire $115,000 owed for store equipment and $590,000 of the amount due to testo returret recorded 1. Incurred and paid utiles expense of $37,000 during the year J. Collected $835,000 in cash from customers during the year for credit sales previously recorded k. At year-end, accrued 554.000 of interest on the note due to Oglesby Naronalar I. At year-end, accrued $20,000 of past due December rent on the sales factes Required: a. Prepare an income statement ignoring income taxes) for Kick Costest year of operations and be the the year. (Hint You may find it helpful to prepare a T-account for the Cash account cetected by the Answer is not complete Complete this question by entering your answers in the tabs below. Required A1 Required A2 Prepare an income statement ignoring income taxes) for Kick Ofestyret You may find it helpful to prepare a T-account for the Cash account KISSICK CO Income Statement Sales Cost of goods sold Grosso OOOOOO 900.000 580.000 340 000 240 000 37 000 pe here to search o . E