Question: The work sheet for Courtland Corp. is shown below. Complete the classified multi-step income statement on the right. Balance Sheet and Statement of Accumulated


The work sheet for Courtland Corp. is shown below. Complete the classified 

The work sheet for Courtland Corp. is shown below. Complete the classified multi-step income statement on the right. Balance Sheet and Statement of Accumulated Depreciation, Store Equipment Income Statement Debit Credit Changes in Equity Debit Credit 41,500 20,500 Accumulated Depreciation, Store Fixtures...... X Cost Of Goods Sold 41,500 X Depreciation Expense, Store Equipment 9,000 X Depreciation Expense, Store Fixtures 18,000 Dividends 27,500 Income Taxes Expense.. 19,300 Income Taxes Payable.. Interest Expense. Liabilities Merchandise Inventory. X Office Salaries Expense.. Rent Earned 19,300 30,000 45,500 170,000 125,000 303,500 X Rent expense, office space.. 102,000 X Rent expense, selling space. 108,500 Retained Earnings.. 128,500 X Sales, 413,500 X Sales Discounts. 17,500 X Sales Returns and Allowances 16,500 X Sales Salaries Expense... 152,500 Share Capital Store Equipment. 162,500 204,500 93,000 Store Fixtures, Totals Net Income Totals.. 639,800 717,000 495,000 417,800 77,200 77,200 717,000 717,000 495,000 495,000

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