P5-33A preparing a multistep income statement, journalizing closing entries and preparing post closing trial balance.

The adjusted trial balance of big papi Music company at June 30, 2015 Follows:

1. Operating income $61,300

Big papi music company

Adjusted trial balance

June 30, 2015

Account title Debit Credit

Cash $3600

Accounts Receivable $38,800

Merchandise inventory $17,200

Office supplies $200

Furniture $40,000

Accumulated deprearion-furniture $8400

Accounts payable $13,300

Salaries payable $1200

Unearned revenue $6700

Notes payable, long-term $15,000

Papi, capital $36,000

Papi, withdrawals. $40,500

Sales revenue $180,000

Sales returns and allowances $3000

Sales discount. $2000

Cost of goods sold $82,500

Selling expense $19,200

Administrative expense $12,000

Interest expense $1600

Total $260600 $260600

Requirements

1. Prepare big papi multistep income statement for the year ended June 30, 2015

2. Journalize big papi closing entries

3. Prepare a post closing trial balance as of June 30, 2015