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, $1,500; Cost of Goods Sold, $17,820; Income Tax Expense, $2,630; Interest Expense, $1,400; Interest Revenue, $160; General Expenses, $1,700; Net Sales Revenue, $29,865; and Delivery (freight-out) Expense, $210. Prepare a multistep income statement for distribution to external financial statement users.

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, $1,500; Cost of Goods Sold, $17,820; Income Tax Expense, $2,630; Interest Expense, $1,400; Interest Revenue, $160; General Expenses, $1,700; Net Sales Revenue, $29,865; and Delivery (freight-out) Expense, $210. Prepare a multistep income statement for distribution to external financial statement users. SELLALL DEPARTMENT STORES Income Statement