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 $ 6,250 700 1,300 220,000 32,500 10,000 23,888 Depreciation expense-Office copier Sales discounts Sales returns and allowances TV advertising expense Interest revenue Cost of goods sold Sales commission expense 500 16, eee 4, eee 2, eee 750 9e, eee 13, eee Prepare a multiple-step income statement. FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 $ 220,000 $ 16.000 4,000 20,000 200.000 90,000 110,000 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 10.000 23,000 2,000 13,000 Total selling expenses 48,000