Extra Credit Problem Valdez Fashion 31-Dec-25 Account Name Adjusted Trial Balance Debit Credit Cash $8,700 Accounts Receivable 30,700 Inventory 44,700 Supplies 6,200 Equipment 133,000 Accumulated Depreciation-Equipment $28,000 Notes Payable Long Term 51,000 Accounts Payable 48,500 Common Stock 50,000 Retained Earning 34,700 Sales Revenue 755,200 Sales Returns and Allowances 8,800 Cost of Goods Sold 497,400 Salaries And Wages Expense 140,000 Advertising 24,400 Utilities Expense 14,000 Maintenance Repairs Expense 12,100 Freight-Out 16,700 Supplies Expense 1,200 Deprecation Expense 4,500 Interest Expense 1,000 Rent Expense 24,000 Totals 967,400 967,400.

Prepare a Multi Step Income Statement in proper form.