Tater Tot Ltd.'s adjusted trial balance amounts appear in alphabetical order as follows on December 31, 2012, the end of its fiscal year:

Additional information:
1. Tater Tot uses a periodic inventory system.
2. A physical inventory count determined that merchandise inventory on December 31, 2012, was $72,600.
3. Of the mortgage payable, $12,500 is due in the next year.
4. Common shares of $25,000 were issued during the year.
Instructions
Prepare a multiple-step income statement, statement of changes in equity, and statement of financial position for the year

Transcribed Image Text:

Accounts payable Accounts receivable 75,000 40,500 125,000 2,400 4,800 401,600 22,500 6,400 68,600 3,500 637,000 15,000 8,000 7,500 8,300 $ 86,300 44,200 Merchandise inventory, Jan. 1, 2012 Mortgage payable Prepaid insurance Property tax payable depreciation-buildings Accumulated 51,800 depreciation-equipment Administrative expenses Buildings 42,900 180,900 190,000 17,000 75,000 8,000 110,000 5,600 16,000 10,400 Purchase discounts Purchase returns and allowances Retained earnings Salaries payable Common shares Dividends Equipment Freight in Income tax expense Interest expense Sales discounts Sales returns and allowances Selling expenses Unearned revenue