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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
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 $ 6,320 Depreciation expense-Office copier 760 Sales discounts 1,370 Sales returns and allowances 217,800 TV advertising expense 31,388 Interest revenue 10,300 Cost of goods sold 23, 100 Sales commission expense 480 15,700 3,900 2,200 600 89,000 13,000 Prepare a multiple-step income statement. FIT FOR LIFE FOODS Income Statement For Year Ended December 31 Expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses
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