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The following adjusted trial balance is prepared at fiscal year-end for Tok Tik Store (see next page). Additional information for financial statement preparation: 1. Separate Operating Expenses into: . Selling expenses Administrative expenses based on percentage stated. 2. $20,000 of the mortgage payable is due for payment next year Instructions: a. Complete the worksheet for the year 2019. (income statement and balance sheet). b. Prepare financial statements for fiscal year 2019: i. Multiple-step income statement (Separate operating expense into: (1) Selling Expense and (2) Administrative Expense) ii. Owner's equity statement. iii. Classified Statement of Financial Position/Balance Sheet. Remark TOK TIK STORE Adjusted Trial Balance December 31, 2019 Accounts Payable Accounts Receivable Accumulated Depr.Building Accumulated Depr.-Equipment Building Cash Tok Tik, Capital Cost of Goods Sold Depr. Expense Building Depr. Expense-Equipment Tok Tik, Drawings Equipment Insurance Expense Interest Expense Interest Payable Interest Revenue Merchandise Inventory Mortgage Payable Office Salaries Expense Prepaid Insurance Property Tax Expense Property Taxes Payable Sales Salaries Expense Sales Sales Commissions Expense Sales Commissions Payable Sales Returns and Allowances Utilities Expense Utilities Expense Payable 118.950 75.450 78.750 64.350 285.000 35.700 264.900 619.050 15.600 100% administrative 19.950 100% selling 42.000 165.000 10.800 70% selling: 30% administrative 16.500 12.000 6.000 112.500 120.000 48.000 100% administrative 3.600 7.200 100% administrative 7.200 114.000 100% selling 942.000 21.750 100% selling 6.450 12.000 18.000 70% selling: 30% administrative 1.500

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