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The following account titles and balances were taken from the adjusted trial balance of King Company for Year 2. The company uses the periodic inventory system. Account Title Sales returns and allowances Miscellaneous expense Transportation-out Sales Advertising expense Salaries expense Transportation-in Purchases Interest expense Merchandise inventory, January 1 Rent expense Merchandise inventory, December 31 Purchase returns and allowances Loss on sale of land. Utilities expense Required A Required B Balance $ 3,500 900 2,200 156,300 Required: a. Prepare a schedule to determine the amount of cost of goods sold. b. Prepare a multistep income statement. c. Prepare a single-step income statement. Required C 6,200 21,000 3,800 88,000 250 11,200 12,000 10,700 Complete this question by entering your answers in the tabs below. 2,100 3,100 1,850 KING COMPANY Schedule of Cost of Goods Sold Prepare a schedule to determine the amount of cost of goods sold. (Amounts to be deducted should be indicated with minus sign.)

Prepare a multistep income statement. (Enter amounts to be deducted and losses with a minus sign.) Prepare a single-step income statement. (Enter amounts to be deducted and losses with a minus sign.) Complete this question by entering your answers in the tabs below. Prepare a schedule to determine the amount of cost of goods sold. (Amounts to be deducted should be indicated with minus sign.) The following account tities and balances were taken from the adjusted trial balance of King Company for Yeat 2. The company uses the periodic inventory system. Required: a. Prepare a schedule to determine the amount of cost of goods soldt b. Prepare a multistep income statement. c. Prepare a single-step income statement. Complete this question by entering your answers in the tabs below. Prepare a schedule to determine the amount of cost of goods sold. (Ameunts to be deducted should be indicated with minus son.)

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