Multiple-Step Income Statement and Profit Margin

The following income statement items, arranged in alphabetical order, are taken from the records of Osomo Enterprises for the current year:

Advertising expense$9,000Rent expenseoffice$ 26,400Cost of goods sold150,000Rent expensesalesperson's car18,000Depreciation expensecomputer4,500Sales revenue350,000Dividend revenue2,700Supplies expenseoffice1,300Income tax expense27,900Utilities expense6,750Interest expense1,900Wages expenseoffice45,600Assume that Osomo Enterprises classifies all operating expenses into two categories: (1) selling and (2) general and administrative.

Required:

1. How to prepare multiple-step income statement for the current year.