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2 Bella Beauty Company has provided the following list of balances and amounts for its fiscal year ended April 30, 2016. All accounts have normal balances. Cash $ 50,000 Accounts Receivable 125,000 Bella Hansen, Capital 350,000 01:22:07 Sales 1,270,000 Sales Discounts 19,050 Sales Returns & Allowances 25,400 Cost of Goods sold 750,000 Selling Expenses 69,050 Administrative Expenses 125,400 General Expenses 28,000 Bella Hansen, Withdrawals 14.000 REQUIRED: Prepare a multiple step income statement for Bella Beauty Company for the year ended April 30, 2016. Enter discounts and returns & allowances as negative amounts. Enter expenses as positive numbers BELLA BEAUTY COMPANY INCOME STATEMENT FOR THE YEAR ENDED APRIL 30, 2016 Sales $ 1.270.000 Sales Returns & Allowances 25.400) Sales Discounts 19,050) Net Sales 1,225,550 Cost of Goods sold 750,000 Gross Profit 475,550 Operating Expenses Selling Expenses 169.050 Administrative Expenses 125.400 General Expenses 28,000 322 450 153 100 Net Income S 153,100 Mc O D 9