Figures are presented below from the year-end trial balance of Kwantlen Inspirations, a sole proprietorship owned by Jack Kwantlen, for the year ended January 31, 2020. The business uses a perpetual inventory system. Merchandise Inventory 95.500 Sales discounts 12.500 Kwantlen, Drawings 31.200 Wage Expense 315.000 Interest revenue 2.700 Rent expense 84.000 Prepaid expense 3.000 Advertising Expense 24.100 Sales revenue 1.240,000 Freight out. 5.300 Kwantlen, Capital 198,100 Unearned revenues. 11.900 Cost of Goods Sold 605,000 Interest Expense 32.700 Supplies. 105.000 Figures are presented below from the year-end trial balance of Kwantlen Inspirations, a sole proprietorship owned by Jack Kwantlen, for the year ended January 31, 2020. The business uses a perpetual inventory system. Merchandise Inventory 95.500 Sales discounts 12.500 Kwantlen, Drawings 31,200 Wage Expense... 315.000 Interest revenue. 2.700 Rent expense 84.000 Prepaid expense 3.000 Advertising Expense 24,100 Sales revenue 1.240,000 Freight out 5,300 Kwantlen, Capital 198,100 Unearned revenues 11.900 Cost of Goods Sold 605.000 Interest Expense 32.700 Supplies 105.000 Instructions: Prepare a multiple step income statement, either by typing in the box below or handwriting on a Figures are presented below from the year-end trial balance of Kwantlen Inspirations, a sole proprietorship owned by Jack Kwantlen, for the year ended January 31, 2020. The business uses a perpetual inventory system. Merchandise Inventory 95,500 Sales discounts 12,500 Kwantlen, Drawings 31.200 Wage Expense 315,000 Interest revenue 2.700 Rent expense 84.000 Prepaid expense 3.000 Advertising Expense 24.100 Sales revenue 1.240,000 Freight out 5.300 Kwantlen, Capital 198,100 Uneamed revenues 11.900 Cost of Goods Sold 605,000 Interest Expense 32,700 Supplies 105,000 Instructions: Prepare a multiple step income statement, either by typing in the box below or handwriting on a sheet of paper, scanning the page as a PDF file and uploading your solution to Moodle. Note: Excel and word responses will NOT be graded. Answers MUST be handwritten if NOT entering your response in the space below. SIL 28C Mostly cloudy A