Ivanhoe Corporation
Trial Balance As on 31st December, 2020
Cash	59,170
Accounts Receivable	59,000
Allowance for Doubtful Accounts		6,300
Inventory	23,400
Land	66,800
Building	94,000
Equipment	30,000
Accumulated Depreciation - Building		32,450
Accumulated Depreciation - Equipment		17,700
Accounts Payable		19,200
Unearned Rent Revenue		1,800
Interest Payable		4,600
Dividends Payable (Cash)		6,842
Bonds Payable (10%)		46,000
Common Stock ( $ 10 par)		43,000
6% Preferred stock		20,000
Paid in Capital in Excess of Par - Preferred Stock		1,000
Paid in Capital in Excess of Par - Common Stock		20,700
Treasury Stock	13,230
Dividends - 6% Preferred Stock	1,200
Dividends - Common Stock	5,642
Retained Earning		92,900
Dividends Payable - Common stock		5,642
Dividends Payable - 6% Preferred stock		1,200
Rent Revenue		5,400
Sales Revenue		563,000
Cash Dividends	6,842
Bad Debt Expense	5,900
Depreciation Expense	5,650
Interest Expense	4,600
Cost of Goods Sold	409,000
Other operating expense	37,000
Salaries and wages expense	66,300
TOTAL	887,734	887,734

Prepare a multiple-step income statement for the year ending December 31, 2020.