Need help with where I went wrong on required 2 and help with 3

Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system.

Additional Information:

1. Store supplies still available at fiscal year-end amount to $2,400.
2. Expired insurance, an administrative expense, for the fiscal year is $1,550.
3. Depreciation expense on store equipment, a selling expense, is $1,550 for the fiscal year.
4. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,100 of inventory is still available at fiscal year-end.

Required: 1. Using the above information prepare adjusting journal entries: 2. Prepare a multiple-step income statement for fiscal year 2018. 3. Prepare a single-step income statement for fiscal year 2018.

Required Information [The following information applies to the questions displayed below.] The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2018 Credit Debit $ 7,880 14, see 5,790 2,300 43, $ 17,700 17, eee 3.289 16,000 2,100 116,200 Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-store equipment Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense-Store equipment Salaries expense Insurance expense Rent expense Store supplies expense Advertising expense Totals 1.999 2.300 38,000 27,600 15,80 9.990 $170, 100 $17e, les Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Nelson Company uses a perpetual inventory system. Additional Information: a. Store supplies still available at fiscal year-end amount to $2.400. red insurance, an administrative expense, for the fiscal year is $1.550. c. Depreciation expense on store equipment, a selling expense, is $1,550 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,100 of inventory is still available at fiscal year-end. Required: 1. Using the above information prepare adjusting journal entries: 2. Prepare a multiple-step income statement for fiscal year 2018. 3. Prepare a single-step income statement for fiscal year 2018. Answer is not complete. Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Prepare a multiple-step income statement for fiscal year 2018. $ 116.200 NELSON COMPANY Income Statement For Year Ended January 31, 2018 Sales Less: Sales discounts 1.900 Less: Sales returns and allowances 2.300 Net sales Cost of goods sold Gross profit Expenses Selling expenses Depreciation expense-Store equipment S 1,550 Sales salaries expense 55,200 X Rent expense-Selling space 7.500 Store supplies expense Advertising expense 0,000 4.200 112,000 38,000 74,000 OOOOO 2.400 70.550 Total selling expenses General and administrative expenses Insurance expense 1.550 Office salaries expense o 13,800 15.350 Total general and administrative expenses Total expenses Net income 91.900 Required: 1. Using the above information prepare adjusting journal entries: 2. Prepare a multiple-step income statement for fiscal year 2018 3. Prepare a single-step income statement for fiscal year 2018 Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Prepare a single-step income statement for fiscal year 2018. NELSON COMPANY Income Statement For Year Ended January 31, 2018 Net sales Expenses Cost of goods sold Selling expenses General and administrative expenses Total expenses Net income