Prepare a multi-step income statement for the month of November.

During the month of November, the following transactions occurred: Start your worksheet with beginning balances (i.e. Ending balance Oct = beg. balance Nov.) 11/1 Paid $3,000 wages to employees. 11/1 Paid rent of $1,500 for office and retail space for month of November. 11/1 Paid $12,000 for one year of insurance premiums. 11/4 Paid for trains received Oct. 5. 11/6 Purchased 300 trains for $25 each. Paid cash. 11/9 Received an order for 100 trains to be delivered on Nov. 19. 11/12 Received an order for 500 trains to be delivered on Dec 10. Since such a large order, Steamy Stacks required a deposit of $11,000. 11/15 Received payment associated with sale on Oct. 17. 11/16 Paid $3,000 wages to employees. 11/19 Delivered the trains ordered on November 9 (100 trains at $45). Payment due Dec. 9. 11/20 Sold 150 trains for $45 each. The trains were delivered. Cash was received. 11/21 Fired an employee for inappropriate behavior. This will reduce the payroll from $3,000 to $2,800 for the period ending 11/30. 11/22 Purchased 1,000 business cards from Kinko's. Delivery and payment of $100 made. 11/25 Purchased 200 trains for $25 each. Payment is due Dec. 22. 11/29 Borrowed $25,000 from the bank by signing a five-year, 6% a.p.r. note. Interest payments are due quarterly. 11/30 Christmas advertisement ran last week of November. Paid the remaining balance of $780