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Help Save The following amounts appeared on Davison Company's adjusted trial balance as of October 31, 2020, the end of its fiscal year. ed Merchandise inventory Other assets Liabilities Brenda Davison, capital Brenda Davison, withdrawals Interest income Sales Sales discounts Sales returns and allowances Cost of goods sold Sales salaries expense Rent expense, selling space Store supplies expense Advertising expense Office salaries expense Rent expense, office space Office supplies expense Totals Debit Credit $ 16,100 257,800 $ 78,500 204,320 65,100 1,139 425,000 6,600 28, 100 169,400 52, 100 19,100 5, 100 29,500 53, 100 5,300 1,650 $708,950 $708,950 Required: 1. Prepare a classified multiple-step income statement for internal use. DAVISON COMPANY Income Statement For Year Ended October 31, 2020 hent 5 - Ch 5 i A%252F%2521 Saved DAVISON COMPANY Income Statement For Year Ended October 31, 2020 0 Operating expenses Selling expenses S Total selling expenses General and administrative expenses Draw Next Total selling expenses General and administrative expenses: $ 0 ed $ 0 Total general and administrative expenses Total operating expenses 0 Other revenues and expenses S He 2. Present a condensed single-step income statement. DAVISON COMPANY Income Statement For Year Ended October 31, 2020 Revenues Total revenues $ 0 Expenses 0 Total expenses