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  3. 3) the end of year balances of the accounts appear

3) The end of year balances of the accounts appearing in the ledger of Paragon...

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Accounting

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3) The end of year balances of the accounts appearing in the ledger of Paragon Tire Company, are as follows for December 31, 2017: (10 points) Accumulated Depreciation - Building Administrative Expenses Building Cash Common Stock Cost of Merchandise Sold Dividends Interest Expense Merchandise Inventory Notes Payable Office Supplies Retained Earnings Salaries Payable Sales Selling Expenses Store Supplies $630,000 $610,000 $3,000,000 $210,000 $250,000 $2,900,000 $100,000 $12,000 $1,010,000 $300,000 $15,000 $2,150,000 $20,000 $7 145,000 $685,000 $40,000 Instructions: a) Prepare a multiple-step income statement for the year ended. b) Why do companies use a multiple-step income statement instead of a single-step income statement

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