Prepare a multi step income statement for the month of October.

Steamy Stacks, Inc. sells toy trains. Steamy Stacks began business on October 1 by issuing (selling) 10,000 shares of no par common stock. for $10 per share. The issuance of common stock represents investment by owners. Steamy Stacks uses the accrual method of accounting. During the month of October, the following transactions occurred: 10/1 Issued 10,000 shares of no par common stock for $10 per share. 10/1 Paid rent of $1,500 for office and retail space for month of October. 10/5 Purchase 500 toy trains for $25 each. The trains were received by Steamy Stacks and payment is due on November 5. 10/10 Sold 150 trains for $45 each. The trains were delivered and cash was received. HINT: Remember to 'match'expenses to revenue they helped to generate... 10/16 Paid $3,000 wages to employees. Employees are paid on the 1st and 16th of each month for the periods ending on the 15th and last day of month, respectively. For simplicity, assume all payments equal $3,000. 10/17 Sold 300 trains for $45 each. The trains were delivered. Payment is due on Nov. 17. 10/20 Ordered Christmas Steamy Stacks advertisement. The advertisements are scheduled to run the last week of November. The advertising agency required 40% payment with the order and the total charge was $1,300. Paid $520. 10/22 Received order for 125 trains to be delivered December 10. 10/31 Paid a cash dividend of $.10 per share of common stock