Q4. From the following information of XYZ Company, prepare a multi-step income statement For the Year Ended December 31, 2021 (5 Marks).

Sales $137,460

Sales Returns $2,060

Sales Discounts $5,190

Cost of Goods Sold $62,990

Freight-Out $6,150

Advertising Expense $5,790

Sales Commissions Expense $3,470

Office Salaries Expense $18,510

Office Rent Expense $14,000

Office Supplies Expense $5,330

Gains on Sale Equipment $2,430

Loss on Sales of Investments $1,640

Interest Expense $930