Q11 - Luca Furniture Liquidators, Ltd. has the following trial balance information as of 12/31/2023 (adjusted, but not yet closed out to R/E). Use the following information to compose in the space below a multistep income statement for the year ended 12/31/2023 in good form, with appropriate headers, subtotals, and other necessary information.

Account Titles		Debits	Credits
Accounts Payable			$8,500
Accounts Receivable		$50,250
Accumulated Depreciation			$136,300
Cash		$24,400
Common Stock			$175,000
Cost of Goods Sold		$110,500
Deferred Revenue			$15,000
Depreciation Expense		$4,500
Dividends		$5,000
Equipment		$214,500
Income Tax Expense		$1,000
Insurance Expense		$4,800
Interest Expense		$2,500
Inventory		$95,000
Retained Earnings, 1/1/2021			$7,350
Maintenance Expense		$9,550
Notes Payable, Noncurrent			$25,000
Prepaid Rent		$1,500
Rent Expense		$28,500
Salaries & Wages Expense		$52,750
Sales Discounts		$3,000
Sales Returns & Allowances		$4,250
Sales Revenue			$244,850

Please use the space below to compose the multistep income statement.