need help....I think my calculations are wrong. this is the quetion:

PREPARE income statement

Prepare correct detailed multiple-step income statement.

WRIGHT COMPANY

Income Statement

For the Month Ended December 31, 2014

Sales Revenues;

Account title: Amount:

Account title:Amount:

Account title:Amount:

Net Sales Amount:

Cost of goods sold

Gross profitAmount:

Operating Expenses:

Account title: Amount:

Account title:Amount:

Account titleAmount:

Account titleAmount: Amount Amount:

Account titleAmount:

Account titleAmount:

Account title Amount:

Total operating expenses Amount:

Income from operation: Amount:

Other revenues and gains

Account title Amount:

Other expenses and losses:

Account title Amount

Income before income taxes Amount

Income tax expenseAmount Amount

Net Income Amount:

P5-5BAn inexperienced accountant prepared this condensed income statement for Wright Company, a retail firm that has been in business for a number of years.WRIGHT COMPANY

Income Statement

For the Year Ended December 31, 2014

Revenues

Net sales$952,000

Other revenues16,000

968,000

Cost of goods sold548,000

Gross profit420,000

Operating expenses

Selling expenses160,000

Administrative expenses104,000

264,000

Net earnings$156,000

As an experienced, knowledgeable accountant, you review the statement and determine the following facts.

1.Net sales consist of sales $972,000, less freight-out on merchandise sold $20,000.

2.Other revenues consist of sales discounts $12,000 and interest revenue $4,000.

3.Selling expenses consist of salespersons' salaries $88,000; depreciation on equipment $4,000; sales returns and allowances $46,000; advertising $12,000; and sales commissions $10,000. All compensation should be recorded as Salaries and Wages Expense.

4.Administrative expenses consist of office salaries $54,000; dividends $14,000; utilities $13,000; interest expense $3,000; and rent expense $20,000, which includes prepayments totaling $2,000 for the first month of 2015. The utilities represent utilities paid. At December 31, utility expense of $3,000 has been incurred but not paid.