1) Question: With the help of following information's. You are required to prepare multiple step income statement for the year ended 31" December 2018 Sales 550.000 Supplies expenses 10,800 Equipment expenses 12,250 Inventory at 31 December 2018 Premises Capital on January 2018 Account receivables Account Payable Salaries and commission Advertising expenses Internet expenses Depreciation of sales and equipment 55,000 100,000 75.000 50,000 30,000 15,000 20,500 2.500 4,500 HOME ASSIGNMENT-4 ACC-201-FINANCIAL ACCOUNTING (SECTIONS 26 & 34) Inventory at January 2018 | 150,000 Interest revenue 7,500 Gain on sale of investments 5,500 Interest expense 6,600 Legal expenses 5,045 Dividend Revenue 7,080 Sales discount 135,000 Income tax 7.SSO