Part 2: NOTE: This is a DIFFERENT COMPANY. Using the trial balance below, cc the Multi-Step Income Statement and prepare the Statement of Retained Earnings Classified Balance Sheet on the pages which follow. To get full credit you must inc critical subtotals. CREDIT 250 1,800 300 65 Part 2: Insert Second Trial Balance HERE. King Company Adjusted Trial Balance December 31, 2017 DEBIT Cash 5,000 Accounts Receivable 8,460 Allowance for Doubtful Accounts Short term Note Receivable 500 Interest Receivable 100 Supplies SO Inventory 3,000 Prepaid Expenses 150 Equipment 10,720 Accumulated Depreciation Copyrights 600 Accounts Payable Interest Payable Unearned Revenue Long Term Note Payable Common Stock Paid-in-Capital In Excess of Par - CS Retained Earnings (1/1/17) Dividends 2,500 Sales Sales Returns & Allowances 30 Sales Discounts 75 Cost of Goods Sold 20,750 Bad debt expense 30 Depreciation Expense 770 Amortization Expense 90 Wages Expense 6,500 Rent Expense 1,500 Office Expense 100 Supplies Expense 250 Selling Expense 850 Interest Expense 200 Interest Revenue Income Tax Expense 760 Totals 62,985 150 1,200 6,600 400 3,160 48,895 165 62,985 Multi Step Income Statement For the year ended December 31, 2017 (Be sure to include all the necessary headings, totals and subtotals as outlined in Chapter 5. You may not need to use all the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Income Statement, use the right column for subtotals and totals.) Sales Revenue sale) Iturn and callowance sale docount Net sales con of goods sale) 670)) pont operating Expenic) Rad debt expense Depreciation Expense Amorization Experi/ Wale expense Rent exek Office expense SUNTO) expense Senios excuse operating income Non operating expense and income | satelet revenue intelet expense Income before taxe) sncome tax expenic Net Income