View Policies Current Attempt in Progress The following is a list of the accounts and balances taken from the adjusted trial balance at December 31 2021 for Meilleur Merchants. Meilleur uses a perpetual inventory system and the earnings approach for revenue recognition. The list of accounts is i alphabetical order. All accounts have normal balances. Balance Account Dec. 31 1234 Accounts payable $15,000 Accounts receivable 30,000 Accumulated depreciation-building 15,500 Accumulated depreciation-equipment 10,000 5 Advertising expense 4.100 6 Building 84,600 7 S. Meilleur, capital 75,000 8 S. Meilleur, drawings 28,300 9 Cash 4,500 10 Cost of goods sold 234,600 11 Depreciation expense 5,800 12 Equipment 24.500 13 Freight out 630 14 Insurance expense 1,250 15 Interest expense 1,720 16 Interest revenue 1,240 17 Land 12,000 18 Merchandise inventory 105,000 Question 2 of 28 6 Building 84,600 7 S. Meilleur, capital 75,000 8 S. Meilleur, drawings 28,300 9 Cash 4,500 10 Cost of goods sold 234,600 11 Depreciation expense 5,800 12 Equipment 24,500 13 Freight out 630 14 Insurance expense 1,250 15 Interest expense 1,720 16 Interest revenue 1,240 17 Land 12,000 18 Merchandise inventory 105,000 19 Mortgage payable 57,600 20 Prepaid insurance 2,100 21 Property tax expense 1,300 22 Property taxes payable 600 23 Rent revenue 1,700 24 Salaries expense 41,900 25 Salaries payable 650 26 Sales 422,500 27 Sales discounts 15,100 28 Sales returns and allowances 17,900 29 Unearned revenue 23,000 30 Utilities expense 2,000 30 Utilities expense 23,000 2,000 Prepare a multiple-step income statement for Meilleur Merchant for the year ended December 31, 2021. MEILLEUR MERCHANTS Income Statement St Question 2 of 28