Problem 4-2 Name: Section: Score: 0% Instructions Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are...

The following selected accounts and their current balances appear in the ledgerof Case-It Co. for the fiscal year ended November 30, 2010:Sales $2,703,600Sales Returns and Allowances 37,800Sales Discounts 19,800Cost of Merchandise Sold 1,926,000Sales Salaries Expense 378,000Advertising Expense 50,900Depreciation Expense—Store Equipment 8,300Miscellaneous Selling Expense 2,000Office Salaries Expense 73,800Rent Expense 39,900Insurance Expense 22,950Depreciation Expense—Office Equipment 16,200Office Supplies Expense 1,650Miscellaneous AdministrativeExpense 1,900Interest Expense 4,400.Selected accounts and related amounts for Case-It Co. for the fiscal year endedNovember 30, 2010, are presented above ^. Instructions1. Prepare a single-step income statement in the format shown in Exhibit 3.2. Prepare a retained earnings statement.