Exercise 5-11 The following selected accounts from the Concord Corporation's general ledger are presented below for the year ended December 31, 2017 Advertising expense 60,500 Interest revenue Common stock Cost of goods sold 1,193,500 Rent revenue Depreciation expense137,500 Retained earnings 33,000 73,700 26,400 588,500 165,000 Salaries and wages expense 742,500 9,350 77,000 Sales returns and allowances 45,100 2,640,000 275,000 Inventory Freight-out Income tax expense Insurance expense Interest expense 27,500 Sales discounts 16,500 Sales revenue 77,000 Prepare a multiple-step income statement. CONCORD CORPORATION Income MacBook Pro 3 2. tab caps lock