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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 Sauter Office Supplies for the year ended December 31, 20--.
| Sales | $156,298 |
| Sales Returns and Allowances | 2,196 |
| Sales Discounts | 4,157 |
| Interest Revenue | 430 |
| Merchandise Inventory, January 1, 20-- | 27,104 |
| Purchases | 112,007 |
| Purchases Returns and Allowances | 4,576 |
| Purchases Discounts | 2,710 |
| Freight-In | 871 |
| Merchandise Inventory, December 31, 20-- | 33,027 |
| Wages Expense | 27,609 |
| Supplies Expense | 759 |
| Telephone Expense | 882 |
| Utilities Expense | 8,011 |
| Insurance Expense | 1,295 |
| Depreciation ExpenseEquipment | 3,802 |
| Miscellaneous Expense | 602 |
| Interest Expense | 4,713 |
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