From the adjusted trial balance for Brookstone Art Supplies, Inc. given below, prepare a multiple-step income statement in good form.

Brookstone Art Supplies, Inc. Adjusted Trial Balance December 31
	Debit	Credit
Cash	$9,400
Accounts receivable	25,000
Merchandise inventory	36,000
Office supplies	900
Store equipment	75,000
Accumulated depreciationstore equipment		$22,000
Office equipment	60,000
Accumulated depreciationoffice equipment		15,000
Accounts payable		42,000
Notes payable		10,000
Common stock		1,000
Retained earnings		109,700
Dividends	48,000
Sales		325,000
Sales discounts	6,000
Sales returns and allowances	16,500
Cost of goods sold	195,000
Selling expenses	32,500
General and administrative expenses	19,800
Interest expense	600
Totals	$524,700	$524,700