ABC Company uses the periodic inventory system to prepare its financial statements. All accounts have been adjusted except for inventory which was fast adjusted November 30, 2020. A physical count of Inventory on December 31 2020 indicates that S45000 was on hand. A partialisting of adjusted account balances fofo Accounts payable 55.250 Accounts receivable 7,000 Cash 23.200 Freight in 1.245 Income tax expense 1.935 Inwestory, December 1 3.350 Operating expenses 22.425 Purchase 33.500 Purchase returns and allowances 250 Sales 70.250 Prepare a multiple step statement of income for ABC Company for December 30, 2020