Instructions The following accounts are taken from the accounting records of Dory Company at December 31, 2020 after adjustments: Sales revenue $249,000 Sales salaries expense 14,000 Administrative salaries expense 15,000 Depreciation expense: equipment 8,000 Purchases 160,000 Purchases returns 2,000 Freight-in 10,000 Inventory, 1/1/20 80,000 Retained earnings, 1/1/20 60,000 In addition, the following information is available: The inventory on December 31, 2020, was $75,000. Ten thousand shares of common stock were outstanding during the entire year. Dory paid dividends of $1.00 per share. At the end of October, Dory sold its unprofitable restaurant component. From January through October, the component had incurred an operating loss (pretax) of $14,000. The sale was made at a loss (pretax) of $8,000. The applicable tax rate is 30%. Required: Prepare a 2020 multiple-step income statement for the Dory Company