1) Burger King reported the following balances for 2022:

Accounts payable $3,550 Accounts receivable 4,550 Accumulated depreciation 6,260 Retained earnings, December 31, 2014 6,480 Cash 2,350 Cost of goods sold 52,300 Depreciation expense 2,500 Dividends declared 8,800 Equipment 29,100 Income tax expense 10,700 Interest expense 1,150 Inventory 6,250 Long-term notes payable 11,500 Paid-in capital 4,450 Prepaid rent 350 Rent expense 4,000 Sales 120,000 Wage expense 41,900 Wages payable 3,000

Required: Prepare a multiple-step income statement for 2022.