Allarco Inc. began operations several years ago. Allarco Inc.'s closing entries at December 31, 2014 are shown below. Use this information to prepare a classified multi-step income statement for the year ending December 31, 2014.

General JournalPage GJ1DateAccount/ExplanationFDebitCredit31/Dec Rent Earned 201,000 Sales 411,000 Income Summary 612,000 Close temporary credit balance accounts 31/Dec Income Summary 590,400 Advertising Expense 92,000 Cost Of Goods Sold 61,000 Depreciation Expense, Office Furniture 9,500 Depreciation Expense, Store Furniture 12,500 Income Taxes Expense 5,400 Insurance Expense 15,500 Interest Expense 30,500 Office Supplies Expense 39,500 Rent expense, office space 120,000 Rent expense, selling space 121,500 Sales Discounts 22,500 Sales Returns and Allowances 23,000 Store Supplies Expense 37,500 Close temporary debit balance accounts 31/Dec Income Summary 21,600 Retained Earnings 21,600 Close income summary 31/Dec Retained Earnings 37,000 Dividends 37,000 Close dividends