Instructions Labels and Amount Descriptions Income Statement Instructions Sales, $755,000; cost of goods sold, $330,000; administrative expenses, $35,000; interest expense, $30,000: rent revenue, $25,000; selling expenses, $50,000. Required: Prepare a multiple-step income statement for Armstrong Co. from the above data for the year ended December 31. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for next entries. Be sure to complete the statement heading. Negative amounts should be entered with a minus sign Reading List