Exercise 5-09 a-b (Part Level Submission) Presented below is information for Cheyenne Corp. for the month of March 2020. Cost of goods sold Freight-out Insurance expense Salaries and wages expense $221,920 6,410 5,440 55,970 Rent expense Sales discounts Sales returns and allowances Sales revenue $33,370 8,470 12,520 390,680 (a) Prepare a multiple-step income statement. (If there is a net loss then enter the amount using (45).) Cheyenne Corp. Income Statement For the Month Ended March 31, 2020 Sales Sales Revenue Less Net Sales $ Cost of Goods Sold Sales Revenue Less Net Sales Cost of Goods Sold Gross Profit/ (Loss)