Soved The adjusted trial balance data given below is from the Morgan Company's worksheet for the year ended December 31, 20X1. The expense accounts numbered 611-615 represent selling expenses, and those numbered 621-631 represent general and administrative expenses. ACCT. NO. 399 401 451 ADJUSTED TRIAL BALANCE DEBIT CREDIT 77,000 66,000 430,000 5,700 930 215,000 4,800 3,400 491 501 502 503 504 3,700 611 72,000 613 ACCOUNT NAME Income Summary Sales Sales Returns and Allowances Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Sales Salaries Expense Advertising Expense Travel Expense Office Salaries Expense Office Supplies Expense Utilities Expense Payroll Taxes Expense Uncollectible Accounts Expense Depreciation Expense - Office Equipment Interest Expense 3,900 615 13,300 20,100 621 623 930 625 6,300 627 3,300 629 1,530 631 730 691 3,400 Prepare a classified income statement for the year ended December 31, 20x1. MORGAN COMPANY Income Statement Year Ended December 31, 20X1 Operating revenue Net sales Cost of goods sold Delivered cost of purchases 0 0 Net delivered cost of purchases Total merchandise available for sale $ O 5 Operating expenses Selling expenses Total selling expenses General and administrative expenses $ $ 0 Total general and administrative expenses Total operating expenses Net Income from operations Other income 0 5 Other expense Net non operating expenses $