Use the following information to Schedule of Cost of Goods Sold and a multi-step Income Statement . Accounts Balance as of 12/31/18 before any…

Cash        66,300

Accounts Receivable                             2,450

Building                                   450,250

Accumulated Depreciation                              200,000

Inventory                               185,700

Supplies                                     5,200

Capital Stock                         300,000

Dividends                                 40,000

Purchases                              736,200

Salaries Expense                                   76,400

Inventory (January 1, 2018)                             171,000

Operating Expense                             110,100

Salaries Payable                        2,600

Retained Earnings                               211,100

Freight-In                                  3,500

Sales                         972,400

Accounts Payable                                  15,300

Depreciation Expense                         40,000

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