Required: 1. Prepare the Income Statement (Multiple Step Format) - Use the next page answer sheet) to hand write your answer. Submit a PDF (scan) of your completed Income Statement. Note: I do want you to hand write your answer. Do NOT cut and paste EXCEL! You will be expected to hand write your answers on the two exams...so this is good practice (i.e. checking balances etc. using a calculator). Note: Grading includes proper format, correctly stated balances, completeness, thoroughness, and organization. North Star Inc. Adjusted Trial Balance 31-Dec-18 Credit $ Debit 185.000 14250 $ 960 48.000 2400 275.000 180,000 355,000 195,000 275.000 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory (as of 12/31/18) Supplies Equipment Accumulated Deperciation - Equipment Building Accumulated Deperciation - Building Land Accounts Payable Salaries and Wages Payable Mortgage Payable Common Stock $0.10 APIC Retained Eamings Sales Revenue COGS Seling Expenses Administrative Expenses Rent Revenue Gain on Sale of Equipment Interest Expense Loss due to Storm Damage Income Tax Expense 29.500 4,500 125.000 1.000 145,000 84.000 1285,000 $ $ $ 293,300 245,000 286,000 $ $ 15,000 5,000 $ $ $ $ 9.000 7.000 75,000 2069.950 $ 2069.950