Dr. 2. Listed below are the income statement accounts of Happy Company on December 31, 201A: Cr. Sales 9,600,000 Sales Discount P 80,000 Sales Returns and Allowances 90,000 Purchases 4,200,000 Purchase Discount 120,000 Purchase Returns and Allowances 100,000 Freight in 210,000 Advertising Expense 50,000 Sales Salaries 400,000 Commission Expense 240,000 Miscellaneous Selling Expense 40,000 Rent Expense 500,000 Office Salaries 800,000 Light and Water Expense 400,000 Insurance Expense 60,000 Taxes and Licenses 180,000 Depreciation Expense 140,000 Interest Expense 40,000 Uncollectible Accounts Expense 120,000 Merchandise Inventory, January 1, 201A 750,000 Merchandise Inventory, December 31, 201A 820,000 Required: Prepare a multi-step income statement for the year ended December 321 201A