Marshall Fields department store has the following account balances on December 31, 2016:

Cash $3,809

Total operating expenses $3,552

Accounts payable $3,538

Owner's equity $5,308

Long-term liabilities $971

Merchandise Inventory $391

Cost of Merchandise Sold $20,047

Other assets (long-term) $3,025

Other current liabilities $1,654

Property and equipment, net $765

Net sales revenue $25,265

Other revenues $873

Accounts receivable $2,608

Required: Prepare a multi-step income statement.