Question: *Problem 5-3A (Part Level Submission) The Deluxe Store is located in midtown Madison. During the past several years, net income has been declining because of


*Problem 5-3A (Part Level Submission) The Deluxe Store is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the company's fiscal year on November 30, 2015, the following accounts appeared in two of its trial balances. Unadjusted $28,300 34,200 11,300 Accounts Payable Accounts Receivable Accumulated Depr.-Equipment Cash Common Stock Cost of Goods Sold Dividends Freight-Out Equipment Depreciation Expense Insurance Expense Interest Expense Interest Revenue Unadjusted $ 24,250 30,630 36,100 26,600 56,900 510,800 10,000 5,400 149,000 Adjusted $ 24,250 30,630 46,700 26,600 56,900 510,800 10,000 5,400 149,000 10,600 8,400 5,900 7,600 Inventory Notes payable Prepaid Insurance Property Tax Expense Property Taxes Payable Rent Expenses Rentained Earnings Salaries and Wages Expense Sales Revenue Sales Commissions Expense Sales Commissions Payable Sales Returns and Allowances Utilities Expense 14,100 53,080 95,700 698,000 5,800 Adjusted $28,300 34,200 2,900 2,190 2,190 14,100 53,080 95,700 698,000 10,400 4,600 8,800 7,800 5,900 7,600 8,800 7,800 a1) Prepare a multiple-step income statement. (List other revenues before other expenses.) THE DELUXE STORE Income Statement For the Year Ended November 30, 2015 VYOYO
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