Broderick Pittman

Business

18 January, 21:14

On March 31, 2019, the balances of the accounts appearing in the ledger of Racine Furnishings Company, a furniture wholesaler, are as follows: Accumulated Depreciation-Building $747,950 Merchandise Inventory $939,850 Administrative Expenses 545,700 Notes Payable 240,200 Building 2,416,650 Office Supplies 20,650 Cash 180,250 Salaries Payable 7,700 Cost of Merchandise Sold 3,965,850 Sales 6,126,850 Interest Expense 9,550 Selling Expenses 717,650 Kathy Melman, Capital 1,545,600 Store Supplies 87,000 Kathy Melman, Drawing 181,750 a. Prepare a multiple-step income statement for the year ended March 31, 2019. Racine Furnishings Company Income Statement For the Year Ended March 31, 2019