Efficient Office Systems uses a perpetual inventory system. The adjusted trial balance of Efficient Office Systems at March 31 comma 2018March 31, 2018, follows:

Prepare Efficient's multi-step income statement for the year ended March 31, 2018

Efficient Office Systems
Adjusted Trial Balance
March 31, 2018
		Balance
	Account Title	Debit	Credit
	Cash	$2,700.00
	Accounts Receivable	13,700
	Merchandise Inventory	31,100
	Office Supplies	6,600
	Equipment	42,000
	Accumulated DepreciationEquipment		$13,200.00
	Accounts Payable		9,500
	Salaries Payable		1,100
	Notes Payable, long-term		8,500
	Morris, Capital		15,100
	Morris, Withdrawals	45,500
	Sales Revenue		231,000
	Cost of Goods Sold	92,400
	Selling Expense	27,700
	Administrative Expense	14,000
	Interest Expense	2,700
	Total	$278,400.00	$278,400.00