1. Prepare adjusting journal entries to reflect each of the folowing. a. st

1. Prepare adjusting journal entries to reflect each of the folowing.

a. store supplies still available at fiscal year-end amount to $3300.

b. Expired insurance an administrative expense for the fiscal year is $3300

c.Depreciation expense on store equiptment a selling expense is $2800 for the fiscal year.

d. To estimate shrinkage a hysical count of ending merchandise inventory is taken. It shows $22200 of inventory is still available at fiscal year-end.

2. Prepare a multiple-step income statement for fiscal year 2011.

3. Prepare a single-step income statement for fiscal year 2011

4. Compute the current ratio acid-test ratio and gross margin ratio as of October 31 2011.