Five series is involved in sales of educational materials. The firm pret the following information for the year 2000 AHD 15,000 Sale 140.000 Sales returns 5000 Rental revenue 20,000 Depreciation of sales van 4.000 Sales commission paid 1,000 Interest expenses 3,000 Income tax 15.000 Cost of goods sold 70,000 Advertising expenses 10,000 Required: Prepare an income statement for the year 2020 using the multiple-step format. Common sharescutstanding for 2020 i 40,000 Mive enterprise le involved in sales of educational materials. The firm present the following information for the del 2020 AD Salane 13.030 130.000 Sales noturno 5.000 Rental revenue 20,000 Depreciation of sales van 4,000 Sales commission paid 5.000 Interest expose 3.000 Income tax 15,000 Cost of goods sold 70,000 Athertising expenses 10,000 Required: Prepare an income statement for the year 2020 using the multiple-step format. Common shares outstanding for 2020 i 40,000