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 Sauter Office Supplies for the year ended December 31, 20--. Sales $159,900 Sales Returns and Allowances 1,650 Sales Discounts 4,169 Interest Revenue 427 Merchandise Inventory, January 1, 20-- 28,400 Estimated Returns Inventory, January 1, 20-- 600 Purchases 110,000 Purchases Returns and Allowances 4,520 Purchases Discounts 2,670 Freight-In 855 Merchandise Inventory, December 31, 20-- 29,000 Estimated Returns Inventory, December 31, 20-- 1,000 Wages Expense 27,500 Supplies Expense 700 Phone Expense 900 Utilities Expense 7,000 Insurance Expense 1,200 Depreciation ExpenseEquipment 3,700 Miscellaneous Expense 580 Interest Expense 4,700