please answer question 5

The following amounts appeared on the Mendelstein Company's adjusted trial balance as of October 31, 2020, the end of its fiscal year. Debit Credit Merchandise inventory $ 1,450 other assets 41,000 Liabilities $ 37,340 Joe Mendelstein, capital 37,420 Joe Mendelstein, withdrawals 3,100 Interest income 155 Sales 1.400 Sales returns and allowances 7,600 Sales discounts 1,135 Purchases 43,600 Purchase returns and allowances 2,200 Purchase discounts 910 Transportation in 5,100 Sales salaries expense 17,900 Rent expense, selling space 9,300 Store supplier expense 3,300 Advertising expense 9, 100 office salaries expense 22,100 Rent expense, office space 7,700 Office supplies expense 3,040 Totals $175,425 $175,425 A physical count shows that the cost of the ending inventory is $12.700. 5. Present a condensed single-step income statemen} that lists these expenses: cost of goods sold, selling expenses, and general and administrative expenses. Answer is complete but not entirely correct. MENDELSTEIN COMPANY Income Statement For Year Ended October 31, 2020 88,665 155 $ 88,820 Revenues Net sales Interest revenue Total revenues Expenses: Cost of goods sold General and administrative expenses Selling expenses $ 34 340 49.1003 27.2003 Total expenses Loss 110.640 17.980 $