Ennio Morricone Company had the following normal account balances on selected accounts: Sales Revenue Sales Returns and Allowances Advertising Expense Cost of Goods Sold Common stock Dividends $2,400,000 55,000 41.000 1,085,000 250,000 150,000 Freight-Out 25,000 Income tax expense 20,000 Interest Expense 70,000 Salaries and Wages Expense 675,000 Utilities Expense 17,000 Depreciation Expense 125,000 Interest Revenue Inventory Retained earnings 30,000 67,000 Insurance Expense Sales Discounts 535,000 15,000 8,500 Instructions 1. Use the above information to prepare a multiple-step income statement for the year ended December 31, 2022. H