QS 4-17 (Algo) Preparing a multiple-step income statement LO P4 Save-the-Earth Co. reports the following income statement accounts for the year ended December 31 Sales discounts office salaries expense Rent expense-Office space Advertising expense Sales returns and allowances Office supplies expense Cost of goods sold Sales Insurance expense Sales staff salaries $ 800 2,500 2,000 600 300 600 10,000 30,000 1,500 3,000 Prepare a multiple-step income statement for the year ended December 31 Answer is not complete Save-the-Earth Co. Income Statement For Year Ended December 31 Sales Less: Sales returns and allowances $ 300 A Sales in RO 30.000 DOO 1 100 21 tv A O MacBook Air 90 D F3 14 F5 F6 52 # $ % & * 2 3 4 5 6 7 8 W E R T Y U 1 Income Statement For Year Ended December 31 $ 30,000 $ 300 >> 800 O Sales Less: Sales returns and allowances Less: Sales discounts Net sales Cost of goods sold Gross profit Expenses Selling expenses Sales staff salaries Advertising expense 1,100 28,900 10,000 18,900 3,000 600 3,600 Total selling expenses General and administrative expenses Office salaries expense Office supplies expense Insurance expense OOO 2,500 600 1,500 4,600 Total general and administrative expenses Total expenses Net income 8,200 10,700 $