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MULTIPLE-STEP INCOME STATEMENT Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for
MULTIPLE-STEP INCOME STATEMENT Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for Aeito's Plumbing Supplies for the year ended December 31, 20--. Sales $166,000 Sales Returns and Allowances 1,620 Sales Discounts 3,320 Interest Revenue 3,184 Merchandise Inventory, January 1, 20-- 32,600 Estimated Returns Inventory, January 1, 20-- 600 Purchases 111,300 Purchases Returns and Allowances 3,600 Purchases Discounts 2,226 Freight-In 640 Merchandise Inventory, December 31, 20. 29,200 Estimated Returns Inventory, December 31, 20- 400 Wages Expense 22,000 Supplies Expense 650 Phone Expense 1,100 Utilities Expense 9,000 Insurance Expense 1,000 Depreciation Expense-Building 4,600 Depreciation Expense-Equipment 2,800 Miscellaneous Expense 214 Interest Expense 1,126
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