The Goody Shop Ltd.'s unadjusted trial balance amounts (prior to recording the adjusting journal entry to update Inventory and Cost of Goods Sold) appear in alphabetical order as follows on November 30, 2018, the end of its fiscal year:

Additional information:
1. The Goody Shop uses a periodic inventory system.
2. A physical inventory count determined that inventory on November 30, 2018, was $37,350.
3. Of the mortgage payable, $5,300 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.

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Accounts payable $Land 32,310 13,770 Mortgage payable 61,200 Prepaid insurance 85,000 106,000 4,500 Accounts receivable Accumulated depreciation- buildings Accumulated depreciation- equipment Administrative expenses Buildings 19,880 Property tax payable 3.500 230,100 Purchase discounts 175,000 Purchase returns and allowances 16,000 3.315 Cash Common shares Dividends declared Equipment Freight in Income tax expense Income tax payable Interest expense Inventory, Dec. 1, 2017 8,500 Purchases 5,000 Salaries payable 5,060 Sales discounts 6,000 Selling expenses 684,700 82,800 8,500 989,000 15,000 10,000 8,200 3,000 26,000 Retained earnings 57,000 Sales 10,000 Sales returns and allowances 11,315 Unearned revenue 34,360