The adjusted trial balance of Club Canada Wholesale Inc. contained the following accounts at December 31, the company€™s yearend:

(a) Prepare a single-step income statement.
(b) Prepare a multiple-step incomestatement.

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CLUB CANADA WHOLESALE INC. Adjusted Trial Balance December 31, 2012 Debit Credit Cash Accounts receivable Notes receivable Merchandise inventory Supplies Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation -equipment Accounts payable Unearned revenue Income tax payable Mortgage payable Common shares Retained earnings Sales Sales returns and allowances Sales discounts Cost of goods sold Administrative expenses Selling expenses Interest expense Interest revenue Income tax expense $14,188 17,470 29,700 92,130 3,850 71,500 196,560 $93,707 83,620 34,180 57,930 7,690 3,550 86,160 20,580 139,705 922,860 17,715 4,534 692,220 116,105 5,860 8,760 2,480 14,630 $1,368,842 $1,368,842