Multi-step Income Statements The adjusted trial balance of Marshall Corporation on December 31, 2013 is shown below.

MARSHALL CORPORATION Adjusted Trial Balance December 31, 2013
	Debit	Credit
Cash	$55,680
Accounts Receivable	114,240
Inventory	104,400
Prepaid Insurance	360
Furniture & Fixtures	38,400
Accumulated Depreciation - furniture & fixtures		$8,160
Delivery equipment	78,000
Accumulated depreciation - delivery equip.		38,400
Accounts Payable		20,880
Common Stock		240,000
Retained Earnings		71,520
Sales Revenue		438,240
Cost of Goods Sold	257,760
Salaries Expense	110,400
Rent Expense	24,960
Utilities Expense	8,160
Insurance Expense	1,800
Depreciation Expense - Furniture & Fixtures	3,840
Depreciation Expense - Delivery Equipment	15,600
Income Tax Expense	3,600
Totals	$817,200	$817,200

Prepare a multi-step income statement for the year ended December 31, 2013. Combine all the operating expenses into one line on the income statement for selling, general and administrative expenses.

Do not use negative signs for your answers.

Marshall Corporation Income Statement For the year Ended December 31
	$
	$
Gross profit on sales	$
Operation expenses
	$
Income before Income taxes	$
	$
Net income	$