Prepare a multiple-step income statement, a statement of stockholders' equity, and a balance sheet. Assume that...

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Prepare a multiple-step income statement, a statement of stockholders' equity, and a balance sheet. Assume that additional common stock of $10,000 was issued in May 2023. a. Inventory on Sept 30 b. Insurance expired during the year c. Store supplies on hand on Sept 30 d. Depreciation: the company is in its second full year of depreciating the store equipment which has a useful life of 5 years and a salvage value of $191,500. e. Accrued salaries on Sept 30: Sales salaries Office salaries $570,000 12,000 4,000 $7,000 6,600 13,600 f. The adjustment for customer returns and allowances is $60,000 for sales and $35,000 for cost of goods sold. g.The company has decided to start using the allowance for doubtful accounts method and is estimating bad debt expense of .5% of Sales. Prepare a multiple-step income statement, a statement of stockholders' equity, and a balance sheet. Assume that additional common stock of $10,000 was issued in May 2023. a. Inventory on Sept 30 b. Insurance expired during the year c. Store supplies on hand on Sept 30 d. Depreciation: the company is in its second full year of depreciating the store equipment which has a useful life of 5 years and a salvage value of $191,500. e. Accrued salaries on Sept 30: Sales salaries Office salaries $570,000 12,000 4,000 $7,000 6,600 13,600 f. The adjustment for customer returns and allowances is $60,000 for sales and $35,000 for cost of goods sold. g.The company has decided to start using the allowance for doubtful accounts method and is estimating bad debt expense of .5% of Sales.

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