Marin Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31, 2021. The following information has been taken from the adjusted trial balance:

Accounts payable		$25,500		Interest expense		$4,500
Cash dividendscommon		57,500		Notes payable		101,500
Common shares		200,000		Retained earnings (Aug. 1, 2020)		359,000
Cost of goods sold		314,500		Salaries expense		147,500
Dividends payable		14,300		Sales		666,500
Income tax expense		29,500		Supplies expense		11,000
Income tax payable		4,000		Unearned revenue		11,200

All accounts have normal balances and total assets equal $817,500. Marin has a 20% income tax rate.

Prepare a multiple-step income statement