Problem 5-5A Income statement calculations and formats-perpetual LO5 sotve it CHECK FIGURE: 1. Income from operations =$55,000 The following amounts appeared on Davison Company's adjusted trial balance as of October 31,2020 , the end of its fiscal year: Required 1. Prepare a classified multiple-step income statement for internal use (see Exhibit 5.13) that lists the company's net sales, cost of goods sold, and gross profit, as well as the components and amounts of selling expenses and general and administrative expenses. 2. Present a condensed single-step income statement (see Exhibit 5.15) that lists these costs: cost of goods sold, selling expenses, and general and administrative expenses