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Presented below is information for Kaila Company for the month of March 2017. Cost of goods sold Freight-out Insurance expense Salaries and wages expense 55,660 Sales revenue $228,450 6,410 5,570 Rent expense Sales discounts Sales returns and allowances $33,320 8,480 12,070 394,030 (a) Prepare a multiple-step income statement. KAILA COMPANY Income Statement For the Month Ended March 31, 2017 Sales Revenues Sales Revenue 394030 Less Sales Returns and Allowances 12070 Sales Discounts 8480 20550