Presented below is information for Wildhorse Company for the month of March 2017 Purchases Freight-in Purchase returns and allowances Salaries and wages expense $219,170 7,000 6,000 59,000 Rent expense Sales discounts Sales returns and allowances Sales revenue $ 34,000 7,000 12,000 382,000 Beginning inventory was $48,000, and ending inventory was $54,000. Prepare a multiple-step income statement. WILDHORSE COMPANY Income Statement For the Month Ended March 31, 2017 : Sales Revenue Less Sales Returns and Allowances Sales Discounts Net Sales Inventory Purchases Lesse Purchase Returns and Allowances Operating Expenses Operating caperises Add A Freight-in Cost of Goods Purchased Cost of Goods Available for Sale Inventory Insurance Expense Insurance Expense Gross Profit Operating Expenses Salaries and Wages Expense Rent Expense Total Operating Expenses Net Income /(Loss)