Larkspur Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July $31,2024.$ The following information has been taken from the adjusted trial balance:

Accounts payable

$$27,030$

Interest expense

$$5,300$

Cash dividends$-$common

$63,600$

Notes payable

$106,000$

Common shares

$212,000$

Retained earnings $($Aug$.1,2023)$

$373,120$

Cost of goods sold

$328,600$

Salaries expense

$148,400$

Dividends payable

$15,900$

Sales

$704,900$

Income tax expense

$31,800$

Supplies expense

$10,600$

Income tax payable

$3,180$

Unearned revenue

$12,720$

$<$

$>$

All accounts have normal balances and total assets equal $$866,550.$ Larkspur has a $20\%$ income tax rate.

$($a$1)$

Prepare a multiple$-$step income statement