Gain on sale of equipment Office supplies expense Insurance expense Sales Office salaries expense Rent expense-Selling space Sales salaries expense Prepare a multiple-step income statement. $ 6,340 Depreciation expense-Office copier 740 Sales discounts 1,360 Sales returns and allowances 228,000 TV advertising expense 31,100 Interest revenue 11,500 Cost of goods sold 22,400 Sales commission expense $ 400 15,700 4,200 3,100 710 90,300 12,100 Sales Answer is not complete. FIT-FOR-LIFE FOODS Income Statement For Year Ended December 31 Less: Sales returns and allowances Less: Sales discounts Net sales Cost of goods sold Gross profit Expenses $ 228,000 S 4,200 15,700 19,900 208,100 90,300 117,800 Selling expenses TV advertising expense 3,100 Rent expense-Selling space 11,500 Sales commission expense 12,100 Sales salaries expenses 22,400 Total selling expenses General and administrative expenses Office supplies expense Insurance expense Depreciation expense-Office copier Total general and administrative expenses Total expenses Income from operations Other revenues, gains, expenses and losses 740 1,360 400 49,100 2,500 51,600 66,200 Gain on sale of equipment 6,340 Interest revenue 710 Total other revenues, gains, expenses and 7,050 losses Net income