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Presented below is information for XYZ Company for the month of March 2018. Cost of goods sold $240,000 Rent expense $20,000 Freight-out 2,000 Sales discounts

Presented below is information for XYZ Company for the month of March 2018. Cost of goods sold $240,000 Rent expense $20,000 Freight-out 2,000 Sales discounts 8,000 Insurance expense 3,000 Sales returns and allowances 11,000 Salaries expense 40,000 Sales revenue 450,000 Prepare a multiple -step income statement on the attached sheet called "answers with backup". (Calculations either in the spreadsheet cell or on written out to be eligible for credit.)

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