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.Multistep Income Statement (19 points) Given the following information, prepare a multistep income statement (not a single-step) for Entity H for the year ended December
.Multistep Income Statement (19 points) Given the following information, prepare a multistep income statement (not a single-step) for Entity H for the year ended December 31, 2022 in good form.
Administrative expenses
22,000
Cost of goods sold
96,000
Freight out
8,000
Gain on sale of equipment
5,000
Income tax expense (20% of income before tax)
?
Interest expense
4,000
Interest revenue
3,000
Loss due strike
2,000
Prepaid insurance
9,000
Sales
260,000
Sales discounts
7,000
Sales returns and allowances
3,000
Selling expenses
15,000
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