M6-13 Preparing a Multistep Income Statement [LO 6-6] Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $1,900; Cost of Goods Sold, $19,980; Income Tax Expense, $2,820; Interest Expense, $1,500; Interest Revenue, $180; General Expenses, $2,100; Net Sales Revenue, $33,485; and Delivery (freight-out) Expense, $250. Prepare a multistep income statement for distribution to external financial statement users. SELLALL DEPARTMENT STORES Income Statement For the Year Ended December 31 Net Sales S 33,485 Cost of Goods Sold 19,980 13,505 Gross Profit Operating Expenses x X 180 Income from Operations Interest Revenue Interest Expense Income before Income Tax Expense Income Tax Expense (1,500) (2,820) Net Income x