Prepare the 2017 Multi-Step Income Statement for Daniels Consulting Corporation below.

Account Names	Adjusted Trial Balance
	Debit	Credit
Cash	$ 689,323
Accounts Receivable	1,100
Allowance for Bad Debts		312
Office Supplies	15
Equipment	7,200
Software Inventory	300
Prepaid Rent	-
Accumulated DepreciationEquipment		840
Furniture	6,000
Accumulated Depreciation Furniture		750
Land	271,485
Short Term Investment - Trading	4,500
FV Adjustment - Trading		1,500
Accounts Payable		1,010
Unearned Revenue		900
Salaries Payable		-
Long-term note payable		303,970
Bonds Payable		500,000
Discount on Bonds Payable	48,930
Inerest Payable		18,532
Daniels, Capital		-
Retained Earnings	-	-
Common Stock		36,000
Paid in capital in excess par C/S		13,452
Preferred Stock		125,000
Paid in capital in excess par P/S		12,500
Sales Revenue		102,915
Service Revenue		34,100
Unrealized Holding G/L	1,500
Interest Revenue		275
COGS	56,610
Rent Expense	27,200
Utilities Expense	4,960
Supplies Expense	455
Salaries Expense	11,275
Interest Expense	19,121
Bad Debt Expense	488
Bank Expense	113
Depreciaiton ExpenseEquipment	780
Depreciation ExpenseFurniture	700
Total	$1,152,056	$1,152,056

DANIELS CONSULTING, INC.
Income Statement
Year Ended December 31, 2017
Gross Profit
Operating Expenses:
Total Operating Expenses:								-
Operating Income								-
Other Income & Expenses
Total Other Income (Expenses)								-
Net Income								$ -
								Net Income should be 14,088