If you could explain for me the steps of this chart , I would appreciate it

5. Present a single-step income statement (like Exhibit 5.17) that lists these expenses: cost of goods sold, selling expenses, general and administrative expenses, and interest expense. Problem 5-12B Classified multiple-step income statement-periodic L05 Xcel HECK FIGURE: 1. Loss = $28,630 formation from the March 31, 2020, year-end unadjusted trial balance of The Online Store is as follows: Debit Credit Cash.......... $ 7,000 Merchandise inventory ... 39,500 Supplies ............ 1,600 Prepaid rent ........ 19,200 Store equipment.......... 60,000 Accumulated depreciation, store equipment.. "........ $ 14,000 Office equipment....... 23,000 Accumulated depreciation, office equipment.. 6,500 Accounts payable.... 16,000 Lucy Baker, capital ........... . .. ..... 134,600 Lucy Baker, withdrawals ........... . . . ..... 34,000 Sales ........... . ...... 506,750 Sales returns and allowances ............ 13,800 Sales discounts....... 6,000 Purchases........... 346,000 Purchase returns and allowances.... 4,600 Purchase discounts......... 7,150 Transportation-in ..... 16,000 Salaries expense (60% selling, 40% office)......... 58,000 Rent expense (80% selling space; 20% office space) .............. 49,000 Advertising expense........ 7,000 Supplies expense (30% selling supplies; 70% office supplies)........... 9,500 Depreciation expense, store equipment ........... -0- Depreciation expense, office equipment Totals. - 0- $689,600 $689,600 ormation