18. Based on the following account information, prepare a multi step statement of income.

Cash: $50,000

Accrued expenses: $5,000

Accounts receivable: $70,000

Bad debt expense: $1,000

General and administrative expenses: $100,000

Net Sales: $900,000

Costs of goods sold: $200,000

Selling expenses: $90,000

Income tax expense: $3,000

Interest expense: $5,000

Interest receivable: $5,000

Retained earnings: $80,000

Accumulated depreciation: $5,000

Depreciation expense: $1,000

Earnings per share: $100

Common stock: $50,000