A company that usually sells satellite TV equipment for $52 and two years of satellite TV service for $468 has a special, time-limited offer in which it sells the equipment for $310 and gives the two years of satellite service for "free." If the company sells one of these packages on July 1, how much revenue should the company recognize on July 1 when it delivers the equipment and receives the full price in cash? (Do not round intermediate calculations.) Sales revenue Sellall Department Stores reported the following amounts as of its December 31 year-end: Administrative Expenses, $2,500; Cost of Goods Sold, $23,220; Income Tax Expense, $3,120, Interest Expense, $1,600; Interest Revenue, $200; General Expenses, $2,700; Net Sales, $38,915; and Delivery (freight-out) Expense, $310. Prepare a multistep income statement for distribution to external financial statement users. SELLALL DEPARTMENT STORES Income Statement