Hota department Store uses a periodic system. The adjusted trial balance of Hota department Store at December 31, 2018, followsn

 Prepare Hota department Store multi-step income statement for the year ended December 31, 2018. Assume ending Merchandise Inventory is $38,500n

Taylor Department Store Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 7.800 Accounts Receivable 85,200 Merchandise Inventory (beginning) 37.000 Ofice Supplies 700 Furniture 82.000 Accumulated Depreciation-Furniture 18,800 Accounts Payable 28.800 Salaries Payable 2,000 Unearned Revenue 14,200 Notes Payable. long-term 32.000 Taylor, Capital 54,900 Taylor. Withdrawals 80,000 Sales Revenue 303.000 Purchases 204,000 Purchase Returns and Alowances 117,000 Purchase Discounts 6.100 Freight in 700 Seling Expense 41.800 Administrative Expense 20.000 2,900 Interest Expense 667,500 S 667,500 Total