An adjusted trial balance of Woods Company as of December 31, 2018is given below. Do a multi-step income statement for the year for the company. Use the blank space on the bottom to prepare the multi-step income statement or you can use a blank sheet of paper and attach it to the test.

Debit

Credit

Cash

$15,000

Accounts Receivable

42,000

Merchandise Inventory

60,000

Supplies

15,000

Land

300,000

Accounts Payable

$3,000

Notes Payable

25,000

H. Woods, Capital

326,000

H. Woods, Withdrawals

3,000

Sales Revenue

480,000

Cost of Goods Sold

240,000

Salaries Expense

15000

Utilities Expense

69,000

Rent Expense

54,000

Interest Expense

6,000

_______

Totals

$834,000

$834,000