Psymon Company, Inc. sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31: Account Titles Debits Credits Cash $ 54,560 Accounts Receivable 22,800 Inventory 83,000 Property and Equipment 62,000 Accumulated Depreciation $ 26,000 Liabilities 38,400 Common Stock 114,000 Retained Earnings, January 1 14,000 Sales Revenue 236,000 Sales Returns and Allowances 8,200 Sales Discounts 10,400 Cost of Goods Sold 126,800 Salaries and Wages Expense 21,800 Office Expense 22,800 Interest Expenses 3,200 Income Tax Expense 12,840 Prepare a multistep income statement that would be used for external reporting purposes, beginning with the amount for Net Sales. Totals $ 428,400 $ 428,400