Hello,

Could someone please help me with this? The chegg textbook solution example looks completely different from the format our prof wants us to fill out (I've attached it here).

Thank you so much!

Preparation of the Income Statement: Periodic Inventory System E11A. Using the selected year-end account balances at December 31, 2014, for Proof General Store that follow, prepare a 2014 multistep income statement. Show detail of net sales. The company uses the periodic inventory system. Beginning merchandise inventory was $26,000; ending merchandise inventory is $22,000. Account Name Credit Debit Sales $297,000 Sales Returns and Allowances $15,200 Purchases 114,800 Purchases Returns and Allowances 4,000 Freight-In Selling Expenses General and Administrative Expenses Income Tax Expense 5,600 48,500 37,200 6,800 Chapter 5-E11A Proof General Store Income Statement For the year ended December 31, 2014 Net sales: Net Sales Cost of goods sold: Net cost of purchascs Cost of goods available for sale Cost of goods sold Grous Margin Operating expenses: Total operating expenses Tncome before income taxes Net Income