Problems: 1. (11 points) The adjusted trial balance of Gertz Company included the following accounts, each normal balance: Advertising Expense $ 15,000 Cost of Goods Sold Depreciation Expense 347,000 3,500 Freight-out 2.000 Income Tax Expense 21,700 Interest Expense 19,000 Interest Revenue 25,000 Merchandise Inventory 35,750 Prepaid Rent 4,500 Sales 575,000 Sales Discounts 9.500 Sales Returns and Allowances 50,000 Store Salaries Expense 74,000 Unearned Revenue 8.000 Utilities Expense 18,000 Instructions 1. Use the above information to prepare a multiple-step income statement for the year ended December 31, 2016. year ended secumber 31, 2016