Using the Trial Balance given create a Multi-Step Income Statement for a merchandising business.

Brennan Fashion Centre
Trial Balance
30-Nov-16
Accounts	Debits	Credits
Cash	$16,700
Accounts Receviable	40,700
Merchandise Inventory	48,000
Store Supplies	5,500
Delivery Equipment	48,000
Accum Dep'n - Del .Equip.		$16,000.00
Buildings	85,000
Accum Dep'n - Buildings		17,000
Land	60,000
Accounts Payable		48,500
HST Payable		9,000
HST Recoverable	2,000
Mortgage Payable		51,000
L. Brennan, Capital		161,000
L. Brennan, Drawings	12,000
Sales		750,300
Sales Returns & Allow.	4,200
Cost of Goods Sold	497,500
Advertising Expense	26,400
Salaries Expense	140,000
Repair Expense	12,100
Delivery Expense	18,200
Utilities Expense	14,000
Rent Expense	24,000
Totals	$1,052,800.00	$1,052,800.00

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