Items from the accounts of Aster Distributors at August 31, 2020, follow, listed in alphabetical order. Aster Distributors uses the perpetual inventory system. For simplicity, the operating expenses are summarized in the General Expenses and Selling Expenses accounts. (Click the icon to view the accounts.) Required 1. Prepare Aster Distributors' multi-step income statement for the year ended August 31, 2020. 2. Corry Aster, owner of the company, strives to earn a gross margin of at least 50 percent and a net income of 20 percent. (Net income percentage = Net income = Net sales revenue). Did Aster Distributors achieve these goals? Show your calculations. Requirement 1. Prepare Aster D Accounts Begin with the heading, and then 5.) Accounts Payable $ $ 4,600 Accounts Receivable 760 81,000|| Interest Payable 121,000|| Interest Revenue Inventory: August 31, 2020 100,000 Note Payable, Long-Term. 175,000|| Salaries Payable 84,000 Sales Discounts 33,000|| Sales Returns and Accumulated Amortization -Equipment C. Aster, Capital C. Aster, Withdrawals 181,000 128,000 8,600 36,000 Cash Cost of Goods Sold 1,180,000 Allowances 51,000 288,160|| Sales Revenue Equipment General Expenses 216,000 Selling Expenses 2,100,000 365,000 47,000 Interest Expense. 11,000|| Supplies Unearned Sales Revenue 15,200