5 Part 1 of 2 111 points Hequired information The following information applies to the questions displayed below) Psymon Company, Inc, sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31 Account Titles Debits Credits Cash $ 48,280 Accounts Receivable 20,400 Inventory 74,000 Property and Equipment 56,000 Accumulated Depreciation $ 23,500 Accounts Payable 34,200 Common Stock 102,000 Retained Earnings, January 1 12,800 Sales Revenue 192,200 Cost of Goods Sold 112,400 Salaries and Wages Expense 19,400 office Expenses 20,400 Interest Expense 2,600 Income Tax Expense 11,220 Totals $364,700 $364,700 Required: 1. Prepare a multiste income statement that would be used for external reporting purposes. Some of the accounts listed will appear on the balance sheet rather than the income statement Answer is not complete. PSYMON COMPANY, INC Income Statement For the Year Ended December 31 Sales Revenue 192,200 Cost of Goods Sold 112,400 Gross Profit 79,800 Depreciation Expense X Salaries and Wages Expono 19,400 Office Expenses 20,400 Income from Operations Interest Expense 2,6017 Income before Income Tax Expense Income Tax Expense 11,2207 Depreciation Expense Net Income