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 $ 6,160 720 1,250 224,000 31,400 10,800 22,200 Depreciation expense-Office copier Sales discounts Sales returns and allowances TV advertising expense Interest revenue Cost of goods sold Sales commission expense 470 16,300 4,200 3,900 650 90,700 12,200 Prepare a multiple-step income statement. FIT-FOR-LIFE FOODS Income Statement $ 224,000 16,300 4,200 For Year Ended December 31 Sales Less: Sales discounts $ Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Expenses Selling expenses Rent expense-Selling space Sales staff wages TV advertising expense Sales commission expense 20,500 203,500 90,700 112,800 10,800 22,200 3,900 12,200 49,100 720 Total selling expenses General and administrative expenses Office supplies expense Insurance expense Office salaries expense Depreciation expense-Office copier 1,250 31,400 470 33.840 82,940 29,860 Total general and administrative expenses Total expenses Income from operations Other revenues, gains, expenses & losses Gain on sale of equipment Interest revenue 6.160 650 6,810 Total other revenues, gains, expenses & losses Net income