Using the accounts presented in SE 6, prepare a multistep income statement. SE-7

Data in SE 6

Using the following accounts, prepare a single-step income statement at year end, May 31, 20xx: Cost of Goods Sold, $280; General Expenses, $150; Income Taxes, $35;
Interest Expense, $70; Interest Income, $30; Net Sales, $800; Selling Expenses, $185.
Ignore earnings per share.