Please complete the full question, write in coloumns and specify the numbers to it is easily able to interpret. Thank You

The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company.

NELSON COMPANY Unadjusted Trial Balance January 31, 2017
	Debit			Credit
Cash	$	27,400
Merchandise inventory		14,500
Store supplies		5,200
Prepaid insurance		2,600
Store equipment		42,800
Accumulated depreciationStore equipment				$	17,550
Accounts payable					16,000
J. Nelson, Capital					16,000
J. Nelson, Withdrawals		2,250
Sales					145,400
Sales discounts		1,850
Sales returns and allowances		2,250
Cost of goods sold		38,000
Depreciation expenseStore equipment		0
Salaries expense		31,100
Insurance expense		0
Rent expense		18,000
Store supplies expense		0
Advertising expense		9,000
Totals	$	194,950		$	194,950

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:

Store supplies still available at fiscal year-end amount to $3,000.

Expired insurance, an administrative expense, for the fiscal year is $1,400.

Depreciation expense on store equipment, a selling expense, is $1,550 for the fiscal year.

To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,000 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 2017. 3. Prepare a single-step income statement for fiscal year 2017

4. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31, 2017. (Round your answers to 2 decimal places.)