An alphabetical list of Pharoahs Company adjusted accounts at its fiscal year end, August 31, 2021, follows. All accounts have normal balances Accounts payable $15,580 Notes payable $42.000 Accumulated depreciation equipment 14,000 Prepaid insurance 575 Accumulated depreciation-furniture 17.500 R. Smistad, capital 65,750 Cash 25,600 R. Smistad, drawings 78,000 Cost of goods sold 271,700 Rent expense 24,700 Depreciation expense 7.100 Salaries expense Equipment 35,000 Salaries payable 50,600 2,250 475,000 16,300 Furniture 42,000 Sales Insurance expense 3,575 Sales returns and allowances Interest expense 2.140 Supplies 950 Interest payable 535 Supplies expense 6,325 2,600 Merchandise inventory 70,650 Unearned revenue Additional information: 1. Of the notes payable. $6.900 becomes due on February 17, 2022. The balance is due in 2023. 2. On July 18, 2021, R. Smistad invested $4.500 cash in the business, Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number 3.-45 or parentheses es.(451) PHAROAH COMPANY Income Statement