On December 31, 2020, the balances of the accounts appearing in the ledger of Home City Furnishings Company, a furniture wholesaler, are as follows: Rent revenue Accounts receivable Administrative expenses Sales returns and allowances Sales discounts Selling expenses Sales Cash Cost of merchandise sold Interest expense $11,000 500,000 200,000 200,000 50,000 250,000 3,500,000 530,000 1,600,000 6,000 Prepare a multi-step income statement for the year ended December 31, 2020. Home City Furnishings Income Statement For the Year Ended December 31, 2020 4

On December 31,2020, the balances of the accounts appearing in the ledger of Home City Furnishings Company, a furniture wholesaler, are as follows: Prepare a multi-step income statement for the year ended December 31, 2020. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Home City Furnishings } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline For the Year Ended December 31, 2020 \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular}