Prepare a Multi-Step Income Statement for the company (you pick the name) Use some of the accounts listed below December 31, 2020 Sales $ 505,678 Cost of sales 393,048 Buildings 78,199 Salary expense 73,607 Long Term Debt 40,216 Common stock 40.000 Accumulated depreciation 38,304 Equipment 37.805 Accounts payable 30.451 Inventories 29,407 Retained earnings 28,377 Goodwill 22,831 Land 22,591 Acrued expenses (eg, Accounts payable) 20.537 Rent expense 10.896 Cash and cash equivalents 7,907 Loss from sale of equipment 7.139 depreciation expense 6,964 Notes Payable 6,067 Advertising expense 4,567 Sales returns and allowances 4,298 Sales Discounts 3.168 Prepaid expenses 3,120 Accounts Receivables 2,144 Interest expense 1,884 Dividends 55 NOTE: Assume a 21% Income Tax rate Note the solution also includes the Statement of Retained Earnings and a Classified Balance sheet, but it is not required for this exam (you may need them for the final)