Problem 1. The adjusted trial balance of Osprey Company Included the following selected accounts, with their corresponding normal balances: Advertising Expense Common Stock $10,000 250,000 Cost of Goods Sold 380,000 Depreciation Expense 4,500 Freight-Out 3,000 Interest Expense 17,000 Interest Revenue 23,000 Inventory 65,000 Salaries and Wages Expense 80,000 Sales Discounts 8,500 Sales Returns & Allowances 45,000 635,000 Sales Revenue 20,000 Utilities Expense Use the above information to prepare a properly formatted multiple-step income statement for the year ended December 31, 2025.