2. The adjusted trial balance of Cochrane Company includes the following accounts: Debit Credit Sales $595,000 Sales Returns and Allowances $ 47,000 Cost of Goods Sold 371,400 Salaries Expense 47,000 Advertising Expense 10,000 Rent Expense 18,000 Freight-out 7,000 Utilities Expense 12,000 Depreciation Expense 12,500 Interest Revenue 4,000 Loss Due to Vandalism 3,000 The company uses a perpetual inventory system. Instructions Prepare a multiple-step income statement for the year ended December 31, 2017.