(Solved): Multiple-Step Income Statement and Report form of Balance Sheet The following selected accounts and ...

Multiple-Step Income Statement and Report form of Balance Sheet The following selected accounts and their current balances appear in the ledger of Prescott Inc. for the fiscal year ended September 30 , \( 20 \mathrm{y} \) : 1. Prepare a multaple-step income statement, Enter account decreases and outflows as negative arnounts. rowa My West Wse the maltiple-step income statement format, with its separation of revenues. cost of merchandise so'd, selling oxpenses, admiristrative expenses, and other inceme and oeher exp Prepare a stacement of stockholders' equity, No common stock was issued during the year For those boxes in which no entry is required, leave the box blank. frestenk vCowe Mraw when retained earnings decrea se throuph net lostes. Prescott Inc. Balance sheet Halance Sheet september \( 30,20 \mathrm{Vd} \) Property, piant, and equipmenti Total property. plant, and equ pment. fotal assets 8 8 8 8