Reference no: EM132379718

Question

The wworksheet of Bridget's Office Supplies contains the following revenue, cost, and expenses accounts. The merchandise inventory amount to $58,075 On January 1, 2019, and $51,025 on December 31, 2019. The expense account number 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses.

Accounts

401 Sales $244,200 Cr.

451 Sales returns and allowances 4,180 Dr.

491 Miscellaneous Income 230 Cr.

501 Purchases 101,900 Dr.

502 Freight In 1,805 Dr.

503 Purchases returns and allowances 3,430 CR.

504 Purchase Discounts 1,630 Cr.

611 Salaries Expense-Sales 43,600 Dr.

614 Store Supplies Expense 2,140 Dr.

617 Depreciation Expense-Store Equipment 1,340 Dr.

631 Rent Expense 11,800 Dr.

634 Utilities Expense 2,830 Dr.

637 Salaries Expense-Office 19,400 Dr.

640 Payroll Taxes Expenses 4,390 Dr.

643 Depreciation Expense -Office Equipment 400 Dr.

646 Uncollectible Accounts Expense 550 Dr.

691 Interest Expense 400 Dr.

How do I Prepare the classified income statement for this file for the year ended December 31, 2019.