Pharoah Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the companys fiscal year on November 30, 2022, these accounts appeared in its adjusted trial balance.

Accounts Payable		$ 26,400
Accounts Receivable		17,100
Accumulated DepreciationEquipment		68,000
Cash		8,000
Common Stock		35,000
Cost of Goods Sold		609,960
Freight-Out		6,440
Equipment		159,160
Depreciation Expense		13,700
Dividends		12,000
Gain on Disposal of Plant Assets		2,000
Income Tax Expense		10,000
Insurance Expense		9,000
Interest Expense		5,000
Inventory		26,100
Notes Payable		43,500
Prepaid Insurance		6,000
Advertising Expense		33,500
Rent Expense		34,000
Retained Earnings		14,100
Salaries and Wages Expense		118,740
Sales Revenue		904,000
Salaries and Wages Payable		6,000
Sales Returns and Allowances		20,000
Utilities Expense		10,300

Additional data: Notes payable are due in 2026.

IN NEED OF A MULTIPLE-STEP INCOME STATEMENT!