Exercise 5-18 (Algo) Preparing a multiple-step income statement LO P4 Fit-for-Life Foods reports the following income statement accounts for the year ended December 31. Gain on sale of equipment office supplies expense Insurance expense Sales Office salaries expense Rent expense-Selling space Sales staff wages Prepare a multiple-step income statement. $ 6,290 Depreciation expense-Office copier 770 Sales discounts 1,250 Sales returns and allowances 219,000 TV advertising expense 31,200 Interest revenue 10,300 Cost of goods sold 22,100 Sales commission expense FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 $ 550 15,800 4,000 4,000 730 91,000 14,000 Sales Less: Sales returns and allowances Gross profit Expenses Selling expenses Total selling expenses General and administrative expenses $ 219,000 4,000 4,000 215,000 215,000