Marin 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		$33,150		Interest expense		$6,500
Cash dividendscommon		78,000		Notes payable		130,000
Common shares		260,000		Retained earnings (Aug. 1, 2023)		457,600
Cost of goods sold		403,000		Salaries expense		182,000
Dividends payable		19,500		Sales		864,500
Income tax expense		39,000		Supplies expense		13,000
Income tax payable		3,900		Unearned revenue		15,600

All accounts have normal balances and total assets equal $1,062,750. Marin has a 20% income tax rate.

(a1)

Prepare a multiple-step income statement.

MARIN INC. Income Statement choose the accounting period July 31, 2024Quarter Ended July 31, 2024Year Ended July 31, 2024
enter an income statement item				$enter a dollar amount
enter an income statement item				enter a dollar amount
select a summarizing line for the first part Retained Earnings, August 1, 2023DividendsRetained Earnings, July 31, 2024Gross ProfitInvestmentsOperating ExpensesOther ExpensesProfit before Income TaxProfit from OperationsProfit/(Loss) for the YearTotal Operating Expenses				enter a total amount for the first part
select an opening name for section one Retained Earnings, August 1, 2023DividendsRetained Earnings, July 31, 2024Gross ProfitInvestmentsOperating ExpensesOther ExpensesProfit before Income TaxProfit from OperationsProfit/(Loss) for the YearTotal Operating Expenses:
enter an income statement item		$enter a dollar amount
enter an income statement item		enter a dollar amount
select a closing name for section one Retained Earnings, August 1, 2023DividendsRetained Earnings, July 31, 2024Gross ProfitInvestmentsOperating ExpensesOther ExpensesProfit before Income TaxProfit from OperationsProfit/(Loss) for the YearTotal Operating Expenses				enter a total amount for section one
select a summarizing line for the second part Retained Earnings, August 1, 2023DividendsRetained Earnings, July 31, 2024Gross ProfitInvestmentsOperating ExpensesOther ExpensesProfit before Income TaxProfit from OperationsProfit/(Loss) for the YearTotal Operating Expenses				enter a total amount for the second part
select an opening name for section two Retained Earnings, August 1, 2023DividendsRetained Earnings, July 31, 2024Gross ProfitInvestmentsOperating ExpensesOther ExpensesProfit before Income TaxProfit from OperationsProfit/(Loss) for the YearTotal Operating Expenses:
enter an income statement item				enter a dollar amount
select a summarizing line for the third part Retained Earnings, August 1, 2023DividendsRetained Earnings, July 31, 2024Gross ProfitInvestmentsOperating ExpensesOther ExpensesProfit before Income TaxProfit from OperationsProfit/(Loss) for the YearTotal Operating Expenses				enter a total amount for all three parts
select an income statement item				enter a dollar amount
select a closing name for this statement Retained Earnings, August 1, 2023DividendsRetained Earnings, July 31, 2024Gross ProfitInvestmentsOperating ExpensesOther ExpensesProfit before Income TaxProfit from OperationsProfit/(Loss) for the YearTotal Operating Expenses				$enter a total profit or loss amount