STATEMENT Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for Rau Office Supplies for the year ended December 31, 20--.

Sales ................. $148,300

Sales Returns and Allowances ....... 1,380

Sales Discounts ............. 2,166

Interest Revenue .............. 240

Merchandise Inventory, January 1, 20-- .... 26,500

Purchases ............... 98,000

Purchases Returns and Allowances ........ 2,180

Purchases Discounts ............. 1,960

Freight-In ................. 750

Merchandise Inventory, December 31, 20-- .. 33,250

Wages Expense ............. 23,800

Supplies Expense ............... 900

Telephone Expense ............ 1,100

Utilities Expense ............. 7,000

Insurance Expense ............ 1,000

Depreciation Expense—Equipment ...... 3,100

Miscellaneous Expense ............ 720

Interest Expense ............. 3,880