Question 1 [80 points] Velor Inc. began operations several years ago. Its post-closing trial balance at June 30, 2014 is shown below. Velor Inc.'s closing entries are also shown below. Shares worth $4,500 were sold during June 2014. Use this information to prepare the following: a. Classified, Multiple-Step income statement for the year ended June 30. b. Statement of changes in equity for the year ended June 30. c. Classified balance sheet at June 30. General Journal Date Account/Explanation 30/Jun Sales Rent Earned Income Summary Close temporary credit balance accounts Page Gj1 F Debit Credit 20,740 19,100 39,840 (select one) Income Statement (select one) 38,208 940 30/Jun Income Summary.. Depreciation Expense, Office Equipment Depreciation Expense, Store Furniture Cost Of Goods Sold Interest Expense Rent expense, office space 1,710 7,210 2,170 8,650 (select one) Statement of Changes in Equity (select one) Date Credit Account/Explanation 30/Jun Sales Rent Earned Income Summary Close temporary credit balance accounts F Debit 20,740 19,100 Income Statement (select one) 39,840 38,208 30/Jun Income Summary. Depreciation Expense, Office Equipment Depreciation Expense, Store Furniture Cost Of Goods Sold Interest Expense Rent expense, office space Rent expense, selling space Office Supplies Expense Store Supplies Expense Income Taxes Expense Sales Discounts Sales Returns and Allowances Close temporary debit balance accounts 940 1,710 7,210 2,170 8,650 7.870 3,360 3.780 408 1,270 840 (select one) Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity 1.632 1,632 30/Jun Income Summary Retained Earnings Close income summary 30/Jun Retained Earnings Dividends Close dividends 3,460 3,460