Q Search 38. Party Place made sales of merchandise inventory of $10,000 in its 2015 fiscal year. The cost of sales for the year was $1,200. Administrative expenses included depreciation on office equipment, $850; insurance expense. 5690; and utilities at office, 5750. Selling expenses included sales salaries, $2,200; advertising expenses, $890; depreciation on store equipment, $1,200; and store rental expense, $3,570. The company aho had interest revenue of $3,250. Prepare a multi-step income statement for the company's fiscal year, which ends September 30, 2015 Q#38 Party Place Income Statement For the Year Ended September 30, 2015 $10,000 Sales Cost of Merchandise Sold Gross Profit Operating Expenses: Selling Expenses: Store Rentai Expense $3,570 Total Selline Expense s 850 Total Admin Expenses Total Operating Expenses Income (1oss) from Operations