Below is the adjusted trial balance of the SHIM & CA Merchandising Inc in 2021. Prepare...

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Below is the adjusted trial balance of the SHIM & CA Merchandising Inc in 2021. Prepare Income Statement using Excel. (in millions) Adjusted Trial Balance (in millions) Sales Beginning Inventory (Jan. 1, 2021) Purchases Ending Inventory (Dec. 31, 2021) Sales Salaries expense Rent expense-sales Rent expense-office Office Salaries expense Utilities expense Income Tax expense Debit $5,000 250,000 7,000 40,000 15,000 24,000 60,000 10,000 30% of Operating Income Credit $550,000 Below is the adjusted trial balance of the SHIM & CA Merchandising Inc in 2021. Prepare Income Statement using Excel. (in millions) Adjusted Trial Balance (in millions) Sales Beginning Inventory (Jan. 1, 2021) Purchases Ending Inventory (Dec. 31, 2021) Sales Salaries expense Rent expense-sales Rent expense-office Office Salaries expense Utilities expense Income Tax expense Debit $5,000 250,000 7,000 40,000 15,000 24,000 60,000 10,000 30% of Operating Income Credit $550,000

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