The following is an alphabetical list of Blue Spruce’s Bakery’s adjusted account balances at the end of the company’s fiscal year on November 30, 2021:
Accounts payable $32,710 Merchandise inventory $34,360
Accounts receivable 13,670 Mortgage payable 106,000
Accumulated depreciation—building 61,200 Prepaid insurance 4,500
Accumulated depreciation—equipment 19,880 Property tax expense 3,500
Building 175,000 Purchases 627,700
B. Hachey, capital 104,480 Purchase discounts 6,300
B. Hachey, drawings 12,000 Purchase returns and allowances 13,315
Cash 20,700 Rent revenue 3,400
Depreciation expense 14,900 Salaries expense 121,600
Equipment 57,000 Salaries payable 8,500
Freight in 5,110 Sales 872,000
Freight out 8,200 Sales discounts 8,300
Insurance expense 9,000 Sales returns and allowances 9,845
Interest expense 5,700 Unearned revenue 3,000
Land 79,000 Utilities expense 20,700
1.Prepare a multiple-step income statement for the November 30, 2021, year end

2.Prepare a statement of owner’s equity for the November 30, 2021, year end.

3.Prepare a classified balance sheet for the November 30, 2021, year end

4. Prepare the closing journal entries.

5.Post closing entries to the Merchandise Inventory and capital accounts. Check that the balances in these accounts are the same as the amounts on the balance sheet.

Additional information:
1. Blue Spruce’s Bakery uses a periodic inventory system.
2. Of the mortgage payable, $9,200 is due on March 31, 2022.
3. A physical count determined that merchandise inventory on hand at November 30, 2021, was $37,370.
4. The owner made no capital contributions during the year.

Prepare a multiple step income statement for Nov 30, 2024 year end.