Instruction: Show your solution in every problem that needs computation Service Direct Direct Salaries Number Materials Expenses Utilities Rent Income Labor Supplies 1.No Ka Pee Co. 55,000 2,500 1,000 16,000 2,000 5,000 4,000 2.La Tan 89,700 5,200 20,450 12,360 4,580 6,000 5,000 Ungan Co 3.Key e Tod 148,300 2,420 32,200 24,000 6,820 10,000 9,020 Ay Co Requirements: 1.Prepare the Income Statement using all the information above for La Tan Ungan Co. and Keye Tod Ay Co. 2.All of the Company are ended on December 31.KEY E. KEPE COMPANY TRIAL BALANCE YEAR ENDED DECEMBER 31, 2020 Debit Credit Cash P2,000,000 Accounts Receivable 420,000 Allowances for bad debts P20,000 Prepaid Insurance 500,000 Merchandise Inventory (Jan. 01) 250,000 Supplies 30,000 Land 620,000 Building 320,000 Accumulated depreciation - Building 20,000 Machineries 120,000 Accumulated depreciation- Machineries 30,000 Equipment 50,000 Accumulated depreciation-Equipment 5,000 Goodwill 400,000 Accounts payable 200,000 Notes payable 250,000 Bank payable-short term 185,000 Mortgage payable-short term 528,000 Bank payable-long term 220,000 Bond payable 130,000 Papa, Capital 2,000,000 Papa, Withdrawal 142,000 Sales 1,500,000 Sales discount 20,000 Sales returns and allowances 25,000 Purchases 350,000 Purchases discount 20,000 Purchases returns and allowances 50.000 Freight-in 22,000 Taxes and licenses expense 10,000 Supplies expense 10,000 Insurance expense 250,000 Salaries expense 38,000 Utilities expense 24,000 Depreciation-building 20,000 Depreciation-machineries 30,000 Depreciation-Equipment 5,000 Merchandise inventory (December 31) 250,000 Other income 214,000Requirement: Prepare a Statement of Comprehensive income Requirements: Compute for the following: Gross sales b. Net sales d. Gross purchases e. Net purchases f. Cost of sales g. Total revenue h . Net Income