Mandle Company Work Sheet (partial) For the year ended December 31, 20-- Income Statement Debit Credit Account Title Balance Sheet Debit Credit 24,000 12,500 8,000 550 1,200 750 33,000 19,000 9,000 Cash Accounts Receivable Merchandise Inventory Store Supplies Office Supplies Prepaid Insurance Store Equipment Accumulated Depreciation --Store Equipment Office Equipment Accumulated Depreciation--Office Equipment Accounts Payable Salaries Payable Long-Term Notes Payable H. Mandle, Capital H. Mandle, Drawing Income Summary Sales Sales Retums and Allowances Purchases Purchases Returns and Allowances Purchases Discounts Sales Salary Expense (seling) Office Salary Expense (general) Store Supplies Expense (selling) Office Supplies Expense (general) Insurance Expense foeneral) 5,000 9,900 200 18,000 45,300 16,000 8,500 8,000 31,000 250 13,500 350 200 4,600 3,500 150 200 400 Insurance Expense (general) 400 Depreciation Expense-Store Equipment (selling) 400 Depreciation Expense-Office Equipment (general) 450 31,950 39,550 105,000 97.400 Net Income 7,600 7,600 39,550 39,550 105,000 105,000 Required: Prepare a multi-step Income statement for Mandle Company for the current fiscal year. Include separate sections for selling expenses and general expenses under the heading Operating Expenses" by using the classifications provided in the Account Title column of the work sheet Mandle Company Income Statement For the year ended December 31, 20- Revenue: Cost of goods sold: 10 Operating expenses: Sellino expenses