Part 1. The company Muebles de la Montaa has the following transactions in its ledger. Complete a multiple-step income statement.

ACCOUNT	BALANCE	ACCOUNT	BALANCE
Cash	$75,000	Sales	$1,650,000
Accumulated Depreciation-Truck	15,000	Account Receivable	50,000
Building	550,000	Note Payable	45,000
Truck	35,000	Joe Doe, Capital	500,000
Cost of Merchandise Sold	650,000	Joe Doe, Drawings	20,000
Advertising Expense	12,000	Administrative Expense	3,300
Utilities Expense	1,200	Telephone Expense	2,000
Supplies	4,500	Salaries Expense	29,000
Salaries Payable	3,000	Equipment	26,000