CI The following income statement was prepared by an office clerk hired for July. As the accounting supervisor, you recognize that it is incorrect and prepare a corrected multi-step income statement $563,340 37,600 18,240 5619,180 Demo Sales Income Statement For Month Ended July 31, 2020 Sales Accounts receivable Unearned sales Net sales Operating expenses: Accumulated depreciation, equipment Advertising expense Cost of goods sold Depreciation expense, equipment Insurance expense Interest expense Interest payable Jen Conway, withdrawals office supplies Prepaid insurance Prepaid rent Rent expense Salaries payable Sales discounts Loss $ 30,669 14,240 396,400 3,240 2,620 1,940 310 14,120 10,209 16,400 25,600 5,720 175, 280 3,040 699,630 $ 80,450