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es Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. $ 6,150 Depreciation expense-Office copier Gain on sale of equipment
es Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. $ 6,150 Depreciation expense-Office copier Gain on sale of equipment Office supplies expense Insurance expense 660 Sales discounts 1,360 Sales returns and allowances Sales Office salaries expense Rent expense-Selling space Sales salaries expense Prepare a multiple-step income statement. Sales Less: Sales discounts Add: Sales returns and allowances Net sales Expenses Selling expenses FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 219,000 TV advertising expense 32,000 Interest revenue 10,900 Cost of goods sold 23,900 Sales commission expense Total selling expenses General and administrative expenses 0 0 0 0 $ 470 16,700 4,000 2,000 610 89,100 12,700
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