The following account titles and balances were taken from the adjusted trial balance of King Company...

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The following account titles and balances were taken from the adjusted trial balance of King Company for Year 2. The company uses the periodic inventory system. Account Title Sales returns and allowances Miscellaneous expense Transportation-out Sales Advertising expense Salaries expense Balance $ 8,600 860 11,100 326,000 11,800 56,000 Transportation-in 6,500 Purchases 156,000 Interest expense 5,600 Merchandise inventory, January 1 18,600 Rent expense 19,500 Merchandise inventory, December 31 20,700 Purchase returns and allowances Loss on sale of land Utilities expense Required a. Prepare a schedule to determine the amount of cost of goods sold. b. Prepare a multistep income statement. c. Prepare a single-step income statement. 3,000 4,600 11,000 Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare a single-step income statement. (Enter amounts to be deducted and losses with a minus sign.) KING COMPANY Income Statement For the Year Ended December 31, Year 2 Sales Sales revenue Net sales 6A 0 The following account titles and balances were taken from the adjusted trial balance of King Company for Year 2. The company uses the periodic inventory system. Account Title Sales returns and allowances Miscellaneous expense Transportation-out Sales Advertising expense Salaries expense Balance $ 8,600 860 11,100 326,000 11,800 56,000 Transportation-in 6,500 Purchases 156,000 Interest expense 5,600 Merchandise inventory, January 1 18,600 Rent expense 19,500 Merchandise inventory, December 31 20,700 Purchase returns and allowances Loss on sale of land Utilities expense Required a. Prepare a schedule to determine the amount of cost of goods sold. b. Prepare a multistep income statement. c. Prepare a single-step income statement. 3,000 4,600 11,000 Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare a single-step income statement. (Enter amounts to be deducted and losses with a minus sign.) KING COMPANY Income Statement For the Year Ended December 31, Year 2 Sales Sales revenue Net sales 6A 0