8 14 QS 4-20 (Algo) Preparing a multiple-step income statement LO P4 Save-the-Earth Company reports the following income statement accounts for the year ended December 31. Sales discounts Office salaries expense Rent expense-Office space Advertising expense points $ 790 2,400 1,900 580 eBook Sales returns and allowances 290 Hint Office supplies expense 580 Cost of goods sold 9,800 Sales References 28,000 1,400 2,900 Insurance expense Sales staff salaries expense Prepare a multiple-step income statement for the year ended December 31. Save-the-Earth Company Income Statement For Year Ended December 31 Sales Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Expenses $ 28,000 $ 290 790 1,080 26,920 9,800 17,120