Dear Tutor,

Kindly help in solving below problem.

Thank you.

The unadjusted trial balance of LMN Store on March 31, 2017, after a quarter of operations is given given below: below: The unadjusted trial balance of LMN Store on March 31, 2017, after a quarter of operations is Cash P 1,144,000 Accounts Receivable 20,000 Store Supplies 5,000 Delivery Equipment 100,000 Store Equipment 50,000 Accounts Payable P 25,000 Notes Payable 20,000 LMN, Capital 990,000 LMN, Drawing 10,000 Sales 950,000 Sales Returns 2,500 Sales Discounts 1,000 Purchases 500,000 Freight-in 5,000 Purchase Returns 3,000 Purchase Discount 4,500 Wages Expense 65,000 Utilities Expense 30,000 Rent Expense 60,000 Total P 1,992,500 P 1,992,500 Adjustment data provided on March 31, 2017: Two percent of net sales are estimated to be uncollectible. Delivery equipment was purchased on February 1, 2017 for P 100,000; It has estimated useful life of 5 years and salvage value of P 10,000. Store Equipment purchased on January 2 will be depreciated at 20% per annum. . . Rent paid was good for 6 months. Accrued wages, P 2,500. Store supplies unused, P 1,000. Merchandise Inventory, March 31, P 50,000.Calculate the following: The total depreciation for the quarter.- Cost of Goods Sold - Gross Profit - Net Sales - Total Purchases- Total operating expenses- Total Assets - LMN, Capital, March 31, 2017 - Total liabilities and Capital- Gross profit ratio