Saved Help Save & Exit Submit The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company Nelson company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense--Store Equipment, Sales Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative NELSON COMPANY Unadjusted Trial Balance January 31 Debit Credit Cash $ 20,85e Merchandise inventory 14,60e Store supplies 5,100 Prepaid insurance 2,400 Store equipment 42,600 Accumulated depreciation-store equipment $ 16,480 Accounts payable 17, cee Common stock 4,000 Retained earnings 28, eee Dividends 2,300 Sales 115,600 Sales discounts 1,9ee Sales returns and allowances 2,050 Cost of goods sold 38, Bee Depreciation expense-Store equipment Sales salaries expense 12,900 Office salaries expense 12,900 Insurance expense Rent expense-Selling space 8,5ee e e ch o Saved Help Save & Exit Additional Information: a. Store supplies still available at fiscal year-end amount to $2,700. b. Expired Insurance, an administrative expense, is $1,550 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1,650 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,600 of inventory is still available at fiscal year-end. equired: Using the above information, prepare adjusting journal entries. Prepare a multiple-step income statement for the year ended January 31. 3. Prepare a single-step income statement for the year ended January 31, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 sch o